SVB Wealth LLC bought a new position in General Electric (NYSE:GE - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 14,188 shares of the conglomerate's stock, valued at approximately $2,366,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of GE. Financial Advocates Investment Management lifted its stake in shares of General Electric by 8.3% during the 3rd quarter. Financial Advocates Investment Management now owns 3,720 shares of the conglomerate's stock worth $702,000 after acquiring an additional 286 shares during the last quarter. Stephens Inc. AR raised its position in General Electric by 5.7% during the 3rd quarter. Stephens Inc. AR now owns 30,587 shares of the conglomerate's stock valued at $5,768,000 after purchasing an additional 1,654 shares in the last quarter. Focus Financial Network Inc. raised its position in General Electric by 7.5% during the 3rd quarter. Focus Financial Network Inc. now owns 4,222 shares of the conglomerate's stock valued at $796,000 after purchasing an additional 293 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in General Electric by 4.2% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,552 shares of the conglomerate's stock valued at $293,000 after purchasing an additional 63 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC raised its position in General Electric by 59.7% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 16,148 shares of the conglomerate's stock valued at $3,045,000 after purchasing an additional 6,038 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.
Wall Street Analyst Weigh In
GE has been the subject of a number of research analyst reports. Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They set a "neutral" rating for the company. Citigroup lifted their target price on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft reduced their price target 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. UBS Group boosted their price target on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Finally, Redburn Atlantic initiated coverage on General Electric in a research report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target for the company. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.31.
Check Out Our Latest Report on GE
General Electric Stock Performance
Shares of GE stock traded up $3.84 on Wednesday, hitting $202.61. The company had a trading volume of 6,219,857 shares, compared to its average volume of 5,314,766. The firm has a market cap of $217.46 billion, a P/E ratio of 33.83, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a 50-day moving average price of $192.06 and a 200-day moving average price of $182.77. 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 twelve month low of $126.78 and a twelve month high of $212.19.
General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, equities research analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.
General Electric Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This is a boost from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. General Electric's dividend payout ratio is presently 24.04%.
About General Electric
(
Free Report)
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.
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