FineMark National Bank & Trust Has $1.30 Million Position in General Electric (NYSE:GE)

FineMark National Bank & Trust reduced its stake in shares of General Electric (NYSE:GE) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,805 shares of the conglomerate’s stock after selling 50 shares during the period. FineMark National Bank & Trust’s holdings in General Electric were worth $1,302,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Hager Investment Management Services LLC acquired a new stake in shares of General Electric in the 4th quarter valued at $27,000. Sugar Maple Asset Management LLC bought a new position in shares of General Electric in the 4th quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in General Electric in the 4th quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in General Electric in the 3rd quarter worth approximately $30,000. Finally, Picton Mahoney Asset Management boosted its position in General Electric by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 68 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on GE. Redburn Atlantic assumed coverage on shares of General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. JPMorgan Chase & Co. raised their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company increased their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Price Performance

Shares of General Electric stock opened at $212.18 on Wednesday. The firm has a market cap of $227.73 billion, a P/E ratio of 35.42, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The firm’s 50-day simple moving average is $200.12 and its 200-day simple moving average is $185.83. General Electric has a twelve month low of $133.99 and a twelve month high of $212.76. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last issued its 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 return on equity of 22.19% and a net margin of 14.31%. As a group, research analysts expect that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 24.04%.

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.