White Pine Capital LLC Reduces Holdings in General Electric (NYSE:GE)

White Pine Capital LLC decreased its holdings in shares of General Electric (NYSE:GE) by 5.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 19,731 shares of the conglomerate’s stock after selling 1,035 shares during the period. General Electric makes up approximately 1.0% of White Pine Capital LLC’s investment portfolio, making the stock its 22nd largest holding. White Pine Capital LLC’s holdings in General Electric were worth $2,518,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Halpern Financial Inc. grew its stake in shares of General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in General Electric in the fourth quarter valued at approximately $27,000. CGC Financial Services LLC boosted its position in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares during the last quarter. Capital Analysts LLC boosted its position in General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares during the last quarter. Finally, Bfsg LLC purchased a new stake in General Electric in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE stock traded up $1.09 during trading hours on Friday, hitting $162.35. 5,898,021 shares of the company’s stock were exchanged, compared to its average volume of 9,321,559. The company has a quick ratio of 0.85, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm has a market cap of $177.71 billion, a P/E ratio of 53.22, a P/E/G ratio of 3.03 and a beta of 1.29. The firm has a 50 day moving average of $160.72 and a two-hundred day moving average of $136.09. General Electric has a fifty-two week low of $77.28 and a fifty-two week high of $163.65.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the prior year, the company posted $0.27 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts forecast that General Electric will post 3.95 EPS for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were paid a $0.28 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their target price on General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Barclays dropped their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Bank of America upped their target price on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, StockNews.com assumed coverage on General Electric in a report on Sunday, April 21st. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $170.00.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.