Baxter Bros Inc. Has $7.38 Million Position in General Electric (NYSE:GE)

Baxter Bros Inc. trimmed its position in shares of General Electric (NYSE:GE) by 0.3% in the fourth quarter, Holdings Channel reports. The fund owned 44,243 shares of the conglomerate’s stock after selling 150 shares during the quarter. General Electric comprises approximately 1.0% of Baxter Bros Inc.’s investment portfolio, making the stock its 28th biggest holding. Baxter Bros Inc.’s holdings in General Electric were worth $7,379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 purchasing an additional 410,172 shares during the period. State Street Corp grew its stake in shares of General Electric by 2.1% during the third 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 during the last quarter. Geode Capital Management LLC increased its position in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the period. Jennison Associates LLC raised its position in shares of General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after acquiring an additional 106,891 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in 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 acquiring an additional 115,257 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the topic of several research reports. UBS Group boosted their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. lifted their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

NYSE GE opened at $210.56 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The business’s fifty day moving average is $199.41 and its 200 day moving average is $185.47. The company has a market capitalization of $225.99 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a fifty-two week low of $133.99 and a fifty-two week high of $212.19.

General Electric (NYSE:GE) last issued 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 return on equity of 22.19% and a net margin of 14.31%. Sell-side analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently announced 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 represents a $1.44 annualized dividend and a yield of 0.68%. This is a boost 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%.

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.