Parallel Advisors LLC Has $2.73 Million Position in General Electric (NYSE:GE)

Parallel Advisors LLC lowered its position in General Electric (NYSE:GE) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,376 shares of the conglomerate’s stock after selling 328 shares during the quarter. Parallel Advisors LLC’s holdings in General Electric were worth $2,731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hager Investment Management Services LLC acquired a new position in General Electric during the fourth quarter worth $27,000. Sugar Maple Asset Management LLC acquired a new position in General Electric in the 4th quarter valued at $29,000. CBIZ Investment Advisory Services LLC bought a new position in shares of General Electric in the fourth quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new stake in General Electric during the 3rd quarter valued at approximately $30,000. Finally, Picton Mahoney Asset Management grew its stake in shares of General Electric by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 68 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Up 2.6 %

Shares of GE opened at $202.23 on Tuesday. The firm has a market capitalization of $217.06 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 12-month low of $133.99 and a 12-month high of $212.19. The stock’s fifty day simple moving average is $196.14 and its 200-day simple moving average is $184.20.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. As a group, research analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared 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 dividend yield of 0.71%. This is an increase 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 currently 24.04%.

Analysts Set New Price Targets

A number of research analysts have recently commented on GE shares. Bank of America upped their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. UBS Group upped their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Northcoast Research started coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Company 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.