General Electric (NYSE:GE) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC decreased its holdings in General Electric (NYSE:GE) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,241 shares of the conglomerate’s stock after selling 83 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in General Electric were worth $286,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Northern Trust Corp raised its holdings in shares of General Electric by 4.0% during the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock valued at $1,170,551,000 after acquiring an additional 410,061 shares during the last quarter. Norges Bank acquired a new position in shares of General Electric during the fourth quarter valued at approximately $1,193,159,000. Morgan Stanley raised its holdings in shares of General Electric by 5.1% during the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after acquiring an additional 434,736 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of General Electric by 62.3% during the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock valued at $623,058,000 after acquiring an additional 1,873,327 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of General Electric by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock valued at $534,123,000 after acquiring an additional 318,245 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GE shares. UBS Group upped their price target on General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday. The Goldman Sachs Group upped their price target on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Royal Bank of Canada upped their price target on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Bank of America upped their price target on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company increased their price objective on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $176.00.

General Electric Trading Up 0.1 %

Shares of GE traded up $0.24 during midday trading on Friday, hitting $165.50. 872,932 shares of the stock were exchanged, compared to its average volume of 7,550,600. General Electric has a 52-week low of $79.76 and a 52-week high of $170.80. The stock has a fifty day simple moving average of $162.39 and a 200 day simple moving average of $143.21. The firm has a market cap of $181.16 billion, a P/E ratio of 54.18, a P/E/G ratio of 1.78 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same period last year, the business posted $0.27 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts anticipate that General Electric will post 3.98 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. General Electric’s dividend payout ratio (DPR) is 36.72%.

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.