White Pine Capital LLC Cuts Position in General Electric (NYSE:GE)

White Pine Capital LLC reduced its holdings in shares of General Electric (NYSE:GE) by 5.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 19,731 shares of the conglomerate’s stock after selling 1,035 shares during the period. General Electric accounts for approximately 1.0% of White Pine Capital LLC’s investment portfolio, making the stock its 22nd largest holding. White Pine Capital LLC’s holdings in General Electric were worth $2,518,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. CreativeOne Wealth LLC lifted its holdings in shares of General Electric by 9.2% in the third quarter. CreativeOne Wealth LLC now owns 3,493 shares of the conglomerate’s stock valued at $386,000 after purchasing an additional 293 shares in the last quarter. Strategic Blueprint LLC lifted its holdings in shares of General Electric by 10.5% in the third quarter. Strategic Blueprint LLC now owns 2,465 shares of the conglomerate’s stock valued at $273,000 after purchasing an additional 234 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of General Electric by 6.5% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 7,552 shares of the conglomerate’s stock valued at $835,000 after purchasing an additional 461 shares in the last quarter. Investment Research & Advisory Group Inc. lifted its holdings in shares of General Electric by 1.7% in the third quarter. Investment Research & Advisory Group Inc. now owns 13,011 shares of the conglomerate’s stock valued at $1,438,000 after purchasing an additional 222 shares in the last quarter. Finally, Merrion Investment Management Co LLC lifted its stake in shares of General Electric by 3.1% during the third quarter. Merrion Investment Management Co LLC now owns 3,300 shares of the conglomerate’s stock valued at $365,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and upped their price objective for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Jefferies Financial Group reduced their price objective on shares of General Electric from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada upped their price objective on shares of General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $170.00.

Insider Transactions at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Trading Up 0.7 %

GE stock traded up $1.09 on Friday, hitting $162.35. 5,898,021 shares of the company were exchanged, compared to its average volume of 9,321,559. General Electric has a twelve month low of $77.28 and a twelve month high of $163.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.85. The business’s fifty day moving average is $160.72 and its two-hundred day moving average is $136.09. The stock has a market capitalization of $177.71 billion, a price-to-earnings ratio of 53.22, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts forecast that General Electric will post 3.95 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is presently 36.72%.

General Electric 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.