Burke & Herbert Bank & Trust Co. Sells 49 Shares of General Electric (NYSE:GE)

Burke & Herbert Bank & Trust Co. reduced its holdings in shares of General Electric (NYSE:GE) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,617 shares of the conglomerate’s stock after selling 49 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in General Electric were worth $1,270,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. CIBC Asset Management Inc increased its holdings in shares of General Electric by 4.4% in the fourth quarter. CIBC Asset Management Inc now owns 165,223 shares of the conglomerate’s stock worth $27,558,000 after buying an additional 6,937 shares during the period. Highview Capital Management LLC DE increased its stake in General Electric by 6.0% in the 4th quarter. Highview Capital Management LLC DE now owns 6,236 shares of the conglomerate’s stock worth $1,040,000 after purchasing an additional 353 shares during the period. Woodard & Co. Asset Management Group Inc. ADV lifted its position in General Electric by 13.5% in the fourth quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 21,031 shares of the conglomerate’s stock valued at $3,508,000 after purchasing an additional 2,496 shares during the last quarter. KLCM Advisors Inc. lifted its position in General Electric by 11.7% in the fourth quarter. KLCM Advisors Inc. now owns 8,123 shares of the conglomerate’s stock valued at $1,355,000 after purchasing an additional 854 shares during the last quarter. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of General Electric by 203.0% during the fourth quarter. Catalyst Capital Advisors LLC now owns 818 shares of the conglomerate’s stock valued at $136,000 after purchasing an additional 548 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. UBS Group upped their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Melius Research raised their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Citigroup upped their price target on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company lifted their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric Stock Up 0.1 %

NYSE:GE opened at $208.62 on Monday. General Electric has a 1-year low of $117.43 and a 1-year high of $211.42. The company has a market capitalization of $223.91 billion, a PE ratio of 34.83, a P/E/G ratio of 2.56 and a beta of 1.22. The firm’s 50-day moving average price is $182.66 and its 200-day moving average price is $179.40. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last announced its earnings results 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%. On average, equities analysts predict that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. General Electric’s payout ratio is presently 18.70%.

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.