Washington Trust Advisors Inc. Sells 119 Shares of General Electric (NYSE:GE)

Washington Trust Advisors Inc. lessened its holdings in shares of General Electric (NYSE:GE) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,364 shares of the conglomerate’s stock after selling 119 shares during the quarter. Washington Trust Advisors Inc.’s holdings in General Electric were worth $1,395,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the 3rd quarter worth $25,000. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the 4th quarter worth $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric in the 3rd quarter worth $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Electric in the 4th quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric in the 3rd quarter worth $30,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Bank of America upped their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group boosted their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Citigroup boosted their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company boosted their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Price Performance

NYSE GE opened at $202.61 on Thursday. The company has a market cap of $217.46 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 52 week low of $126.78 and a 52 week high of $212.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm’s 50-day simple moving average is $192.06 and its two-hundred day simple moving average is $182.77.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Research analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is presently 24.04%.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.