Greenwich Wealth Management LLC Cuts Stock Position in General Electric (NYSE:GE)

Greenwich Wealth Management LLC decreased its position in shares of General Electric (NYSE:GE) by 15.0% in the fourth quarter, HoldingsChannel reports. The fund owned 2,705 shares of the conglomerate’s stock after selling 478 shares during the quarter. Greenwich Wealth Management LLC’s holdings in General Electric were worth $451,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new stake in shares of General Electric during the 3rd quarter valued at $28,000. RPg Family Wealth Advisory LLC acquired a new position in General Electric during the 3rd quarter valued at about $30,000. Hager Investment Management Services LLC purchased a new stake in General Electric in the fourth quarter valued at about $27,000. Sugar Maple Asset Management LLC acquired a new stake in General Electric in the fourth quarter worth about $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in shares of General Electric during the fourth quarter worth about $29,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of NYSE GE opened at $197.39 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm’s 50 day simple moving average is $195.54 and its 200-day simple moving average is $184.00. General Electric has a 12 month low of $131.91 and a 12 month high of $212.19. The stock has a market capitalization of $211.85 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating 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%. Analysts expect that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.73%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of recent analyst reports. Citigroup lifted their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Redburn Atlantic started coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Bank of America upped their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Company Profile

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.