Thrivent Financial for Lutherans Sells 130 Shares of General Electric (NYSE:GE)

Thrivent Financial for Lutherans decreased its holdings in General Electric (NYSE:GE) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,665 shares of the conglomerate’s stock after selling 130 shares during the quarter. Thrivent Financial for Lutherans’ holdings in General Electric were worth $13,316,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hager Investment Management Services LLC acquired a new position in General Electric in the fourth quarter worth about $27,000. Sugar Maple Asset Management LLC bought a new position in shares of General Electric during the 4th quarter worth approximately $29,000. CBIZ Investment Advisory Services LLC bought a new position in shares of General Electric during the 4th quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in General Electric in the 3rd quarter valued at $30,000. Finally, Picton Mahoney Asset Management raised its stake 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 acquiring an additional 68 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

Shares of NYSE:GE opened at $203.99 on Friday. The firm’s 50 day simple moving average is $198.63 and its 200 day simple moving average is $184.87. General Electric has a fifty-two week low of $133.99 and a fifty-two week high of $212.19. The company has a market capitalization of $218.94 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 2.59 and a beta of 1.19. 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 posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s payout ratio is presently 24.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Wells Fargo & Company increased their price target on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, UBS Group boosted their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

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.