RNC Capital Management LLC Sells 625 Shares of General Electric (NYSE:GE)

RNC Capital Management LLC lessened its position in shares of General Electric (NYSE:GE – Get Rating) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,906 shares of the conglomerate’s stock after selling 625 shares during the period. RNC Capital Management LLC’s holdings in General Electric were worth $327,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. Macquarie Group Ltd. raised its stake in General Electric by 3.2% in the 3rd quarter. Macquarie Group Ltd. now owns 48,555 shares of the conglomerate’s stock worth $3,006,000 after purchasing an additional 1,493 shares in the last quarter. Utah Retirement Systems raised its position in shares of General Electric by 0.3% in the second quarter. Utah Retirement Systems now owns 195,399 shares of the conglomerate’s stock valued at $12,441,000 after buying an additional 500 shares in the last quarter. PFS Investments Inc. boosted its stake in shares of General Electric by 17.2% in the second quarter. PFS Investments Inc. now owns 3,571 shares of the conglomerate’s stock valued at $227,000 after buying an additional 523 shares during the period. GHP Investment Advisors Inc. grew its position in General Electric by 25.8% during the third quarter. GHP Investment Advisors Inc. now owns 1,159 shares of the conglomerate’s stock worth $72,000 after buying an additional 238 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in General Electric by 16.5% during the 3rd quarter. Ballentine Partners LLC now owns 12,231 shares of the conglomerate’s stock worth $757,000 after acquiring an additional 1,730 shares during the period. Institutional investors and hedge funds own 70.12% of the company’s stock.

General Electric Stock Performance

GE stock opened at $90.29 on Friday. The company has a fifty day moving average price of $83.12 and a 200-day moving average price of $78.75. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.76. General Electric has a 52-week low of $46.55 and a 52-week high of $94.94.

General Electric (NYSE:GE – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.13. The business had revenue of $21.79 billion during the quarter, compared to the consensus estimate of $22.11 billion. General Electric had a return on equity of 8.47% and a net margin of 0.29%. General Electric’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. As a group, equities research analysts forecast that General Electric will post 1.97 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Tuesday, March 7th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.35%. The ex-dividend date is Tuesday, March 6th. General Electric’s payout ratio is presently -1,066.67%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent analyst reports. Argus raised their price target on General Electric from $85.00 to $90.00 in a research report on Tuesday, January 31st. TheStreet raised shares of General Electric from a “c” rating to a “b-” rating in a research note on Friday, February 10th. Bank of America boosted their price objective on shares of General Electric from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, March 6th. JPMorgan Chase & Co. raised their target price on General Electric from $88.00 to $100.00 in a report on Friday, March 10th. Finally, Barclays boosted their price target on General Electric from $81.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $93.14.

General Electric Profile

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.