Kimelman & Baird LLC Sells 2,424 Shares of General Electric (NYSE:GE)

Kimelman & Baird LLC lessened its holdings in General Electric (NYSE:GE) by 19.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,325 shares of the conglomerate’s stock after selling 2,424 shares during the quarter. Kimelman & Baird LLC’s holdings in General Electric were worth $1,722,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the 4th quarter worth about $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric in the 3rd quarter worth about $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Electric in the 4th quarter worth about $29,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Electric in the 4th quarter worth about $29,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric in the 3rd quarter worth about $30,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of NYSE:GE opened at $197.39 on Monday. The company has a market capitalization of $211.85 billion, a price-to-earnings ratio of 32.95, a P/E/G ratio of 2.59 and a beta of 1.19. The firm’s 50 day simple moving average is $195.54 and its 200 day simple moving average is $184.00. 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 has a fifty-two week low of $131.91 and a fifty-two week high of $212.19.

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 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, sell-side analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.73%. This is a boost 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 is presently 24.04%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GE shares. Citigroup upped their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. upped their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company upped their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Bank of America upped their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.