SouthState Corp Sells 488 Shares of General Electric (NYSE:GE)

SouthState Corp trimmed its stake in shares of General Electric (NYSE:GE) by 36.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 855 shares of the conglomerate’s stock after selling 488 shares during the quarter. SouthState Corp’s holdings in General Electric were worth $143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hager Investment Management Services LLC bought a new position in General Electric during the 4th quarter worth approximately $27,000. Sugar Maple Asset Management LLC bought a new position in General Electric during the fourth quarter worth $29,000. CBIZ Investment Advisory Services LLC bought a new position in General Electric during the fourth quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new position in General Electric in the third quarter valued at $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 valued at $30,000 after acquiring an additional 68 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Citigroup boosted their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Bank of America boosted 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Performance

Shares of GE opened at $202.23 on Tuesday. The firm has a market capitalization of $217.06 billion, a P/E ratio of 33.76, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 52 week low of $133.99 and a 52 week high of $212.19. The stock has a 50 day moving average price of $196.14 and a two-hundred day moving average price 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.

General Electric (NYSE:GE) last announced its earnings results 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%. Equities analysts forecast that General Electric will post 5.4 earnings per share 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 issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.71%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 24.04%.

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.