Oarsman Capital Inc. Sells 129 Shares of General Electric (NYSE:GE)

Oarsman Capital Inc. decreased its holdings in shares of General Electric (NYSE:GE) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 733 shares of the conglomerate’s stock after selling 129 shares during the quarter. Oarsman Capital Inc.’s holdings in General Electric were worth $122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Vanguard Group Inc. raised its position in shares of General Electric by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock valued at $14,980,297,000 after buying an additional 410,172 shares during the last quarter. Geode Capital Management LLC increased its stake in General Electric by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate’s stock valued at $3,846,587,000 after acquiring an additional 529,457 shares during the period. Norges Bank acquired a new position in General Electric in the 4th quarter valued at approximately $2,375,439,000. Jennison Associates LLC lifted its position in shares of General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after acquiring an additional 106,891 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of General Electric by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock worth $1,128,571,000 after purchasing an additional 115,257 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. UBS Group raised their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Redburn Atlantic started coverage on shares of General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.73.

General Electric Stock Performance

General Electric stock opened at $166.76 on Friday. The stock has a 50-day simple moving average of $201.56 and a 200 day simple moving average of $187.07. The stock has a market capitalization of $178.98 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 2.59 and a beta of 1.04. 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 12-month low of $146.78 and a 12-month high of $214.21.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, research analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.86%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

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.