General Electric (NYSE:GE) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC cut its stake in General Electric (NYSE:GE) by 0.8% in the fourth quarter, Holdings Channel reports. The fund owned 6,446 shares of the conglomerate’s stock after selling 52 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in General Electric were worth $1,075,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp increased its stake in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after acquiring an additional 156,272 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after purchasing an additional 106,891 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of General Electric by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock worth $1,128,571,000 after purchasing an additional 115,257 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of General Electric by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock worth $1,122,966,000 after purchasing an additional 202,233 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of GE opened at $202.23 on Tuesday. The stock has a 50-day simple moving average of $196.14 and a 200-day simple moving average of $184.20. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a market capitalization of $217.06 billion, a PE ratio of 33.76, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a 1 year low of $133.99 and a 1 year high of $212.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, analysts predict that General Electric will post 5.4 earnings per share 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. 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 0.71%. The ex-dividend date is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GE. Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Bank of America increased their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Citigroup increased their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. increased their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.