General Electric (NYSE:GE) Shares Sold by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. lowered its position in shares of General Electric (NYSE:GE) by 65.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,756 shares of the conglomerate’s stock after selling 25,749 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in General Electric were worth $1,756,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. JB Capital LLC lifted its holdings in General Electric by 37.0% in the third quarter. JB Capital LLC now owns 2,902 shares of the conglomerate’s stock valued at $321,000 after acquiring an additional 783 shares during the period. Lindbrook Capital LLC boosted its holdings in General Electric by 2.8% during the third quarter. Lindbrook Capital LLC now owns 5,039 shares of the conglomerate’s stock worth $557,000 after buying an additional 138 shares in the last quarter. BluePath Capital Management LLC acquired a new position in General Electric during the third quarter worth about $67,000. Crescent Grove Advisors LLC acquired a new position in General Electric during the third quarter worth about $204,000. Finally, FORVIS Wealth Advisors LLC increased its holdings in General Electric by 6.9% in the third quarter. FORVIS Wealth Advisors LLC now owns 8,871 shares of the conglomerate’s stock valued at $981,000 after buying an additional 570 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GE shares. Royal Bank of Canada upped their price target on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Oppenheimer restated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Jefferies Financial Group increased their target price on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 29th. Citigroup increased their target price on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus price target of $172.29.

General Electric Stock Up 2.3 %

Shares of NYSE GE traded up $3.83 during midday trading on Monday, reaching $167.94. 4,830,418 shares of the company’s stock were exchanged, compared to its average volume of 7,903,994. General Electric has a 52-week low of $78.17 and a 52-week high of $167.98. The stock has a market capitalization of $183.83 billion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The business’s fifty day moving average price is $162.20 and its two-hundred day moving average price is $138.73.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the previous year, the company earned $0.27 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts forecast that General Electric will post 3.96 EPS for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Insider Buying and Selling

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

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.