Capital Investment Counsel Inc Trims Position in General Electric (NYSE:GE)

Capital Investment Counsel Inc lessened its stake in General Electric (NYSE:GE) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,357 shares of the conglomerate’s stock after selling 87 shares during the period. Capital Investment Counsel Inc’s holdings in General Electric were worth $560,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new position in General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the 3rd quarter valued at about $27,000. Peterson Financial Group Inc. purchased a new position in General Electric during the 3rd quarter valued at about $28,000. RPg Family Wealth Advisory LLC purchased a new position in General Electric during the 3rd quarter valued at about $30,000. Finally, Hager Investment Management Services LLC purchased a new position in General Electric during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.7 %

GE stock opened at $208.93 on Friday. The firm has a 50 day moving average of $185.89 and a 200 day moving average of $180.43. The stock has a market capitalization of $224.24 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 2.61 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 52 week low of $118.13 and a 52 week high of $212.19.

General Electric (NYSE:GE) last posted 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%. Sell-side analysts forecast that General Electric will post 5.4 earnings per share for the current 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 issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is 18.70%.

Analyst Ratings Changes

A number of research firms have commented on GE. UBS Group raised their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Bank of America raised their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic assumed coverage on shares of General Electric in a research report on Tuesday. They set a “buy” rating and a $250.00 target price on the stock. Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.