Rockbridge Investment Management LCC Sells 214 Shares of General Electric (NYSE:GE)

Rockbridge Investment Management LCC trimmed its stake in shares of General Electric (NYSE:GE) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,886 shares of the conglomerate’s stock after selling 214 shares during the quarter. Rockbridge Investment Management LCC’s holdings in General Electric were worth $481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of General Electric during the third quarter valued at about $618,000. Truvestments Capital LLC bought a new position in General Electric during the 3rd quarter valued at approximately $35,000. D.A. Davidson & CO. lifted its holdings in General Electric by 2.6% in the 3rd quarter. D.A. Davidson & CO. now owns 35,280 shares of the conglomerate’s stock worth $6,653,000 after buying an additional 893 shares during the period. Avestar Capital LLC grew its position in shares of General Electric by 11.1% in the 3rd quarter. Avestar Capital LLC now owns 5,273 shares of the conglomerate’s stock worth $996,000 after buying an additional 527 shares during the last quarter. Finally, Townsquare Capital LLC increased its stake in shares of General Electric by 84.3% during the third quarter. Townsquare Capital LLC now owns 55,601 shares of the conglomerate’s stock valued at $10,485,000 after buying an additional 25,433 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GE shares. UBS Group lifted their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. JPMorgan Chase & Co. boosted their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Bank of America upped their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Redburn Atlantic began coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Performance

Shares of General Electric stock opened at $207.33 on Thursday. General Electric has a 1 year low of $133.99 and a 1 year high of $214.21. The firm’s 50-day moving average is $200.66 and its 200 day moving average is $185.98. The stock has a market cap of $222.53 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts anticipate that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.69%. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio (DPR) 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.