TruNorth Capital Management LLC Sells 85 Shares of General Electric (NYSE:GE)

TruNorth Capital Management LLC trimmed its position in shares of General Electric (NYSE:GE) by 33.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 171 shares of the conglomerate’s stock after selling 85 shares during the quarter. TruNorth Capital Management LLC’s holdings in General Electric were worth $29,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new position in General Electric during the 3rd quarter valued at approximately $25,000. Hager Investment Management Services LLC bought a new position in shares of General Electric during the fourth quarter valued at approximately $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric during the third quarter valued at approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in General Electric in the fourth quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in General Electric in the third quarter valued at $30,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on GE. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. JPMorgan Chase & Co. raised their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Redburn Atlantic started coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Down 0.6 %

NYSE:GE opened at $198.68 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 firm has a market cap of $213.24 billion, a P/E ratio of 33.17, a P/E/G ratio of 2.59 and a beta of 1.21. General Electric has a fifty-two week low of $122.48 and a fifty-two week high of $212.19. The firm has a 50-day simple moving average of $187.23 and a two-hundred day simple moving average of $181.22.

General Electric (NYSE:GE) last announced 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%. Analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 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.