Midland Wealth Advisors LLC Sells 68 Shares of General Electric (NYSE:GE)

Midland Wealth Advisors LLC lessened its position in shares of General Electric (NYSE:GE) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,974 shares of the conglomerate’s stock after selling 68 shares during the period. Midland Wealth Advisors LLC’s holdings in General Electric were worth $496,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GE. State Street Corp raised its stake in General Electric by 2.1% during the third 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after purchasing an additional 156,272 shares during the last quarter. Jennison Associates LLC increased its position in 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 in the last quarter. Bank of New York Mellon Corp lifted its stake in General Electric by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock valued at $1,128,571,000 after purchasing an additional 115,257 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in General Electric by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock valued at $1,122,966,000 after purchasing an additional 202,233 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE:GE opened at $194.08 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $130.38 and a twelve month high of $212.19. The company has a fifty day moving average of $193.02 and a 200-day moving average of $183.20. The firm has a market capitalization of $208.31 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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 anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is 24.04%.

Analyst Upgrades and Downgrades

Several research firms have commented on GE. Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Citigroup raised their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. upped their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Bank of America lifted their price target 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. Finally, Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus 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.