Slagle Financial LLC Sells 2,972 Shares of General Electric (NYSE:GE)

Slagle Financial LLC lowered its position in shares of General Electric (NYSE:GE) by 13.2% in the 4th quarter, HoldingsChannel reports. The firm owned 19,490 shares of the conglomerate’s stock after selling 2,972 shares during the quarter. General Electric makes up about 1.5% of Slagle Financial LLC’s holdings, making the stock its 24th biggest holding. Slagle Financial LLC’s holdings in General Electric were worth $3,251,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of General Electric during the 4th quarter valued at about $2,375,439,000. Janus Henderson Group PLC grew its position in General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after acquiring an additional 1,593,413 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of General Electric during the fourth quarter worth approximately $194,208,000. Franklin Resources Inc. lifted its holdings in shares of General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after acquiring an additional 973,135 shares during the last quarter. Finally, State Street Corp boosted 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 valued at $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Down 0.6 %

Shares of NYSE GE opened at $206.11 on Friday. General Electric has a 1 year low of $133.99 and a 1 year high of $214.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a 50-day moving average of $201.18 and a 200 day moving average of $186.12. The stock has a market cap of $221.21 billion, a P/E ratio of 34.41, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19.

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

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.70%. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GE shares. Wells Fargo & Company lifted their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. UBS Group lifted their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Citigroup boosted their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Redburn Atlantic began coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Finally, Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.