Ipswich Investment Management Co. Inc. Has $1.43 Million Holdings in General Electric (NYSE:GE)

Ipswich Investment Management Co. Inc. decreased its stake in General Electric (NYSE:GE) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,583 shares of the conglomerate’s stock after selling 458 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in General Electric were worth $1,432,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric in the 3rd quarter valued at $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric during the third quarter worth approximately $28,000. RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric in the third quarter valued at about $30,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Down 4.2 %

Shares of NYSE GE opened at $199.90 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $214.55 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 2.62 and a beta of 1.22. The business’s 50 day moving average is $186.57 and its two-hundred day moving average is $180.72. General Electric has a 52-week low of $119.88 and a 52-week high of $212.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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%. Research analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 0.72%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

Analysts Set New Price Targets

Several analysts recently issued reports on GE shares. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Redburn Atlantic started coverage on General Electric in a report on Tuesday. They set a “buy” rating and a $250.00 price objective for the company. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. 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. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $211.31.

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.