Allworth Financial LP Has $4.20 Million Stake in General Electric (NYSE:GE)

Allworth Financial LP lifted its stake in General Electric (NYSE:GE - Free Report) by 14.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,182 shares of the conglomerate's stock after acquiring an additional 3,273 shares during the quarter. Allworth Financial LP's holdings in General Electric were worth $4,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp increased its position in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Geode Capital Management LLC increased its position in General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock worth $4,244,676,000 after buying an additional 156,272 shares during the last quarter. Jennison Associates LLC increased its position in General Electric by 1.4% during the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock worth $1,314,080,000 after buying an additional 106,891 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in General Electric by 6.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate's stock worth $1,236,428,000 after buying an additional 413,388 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in General Electric by 12.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate's stock worth $774,458,000 after buying an additional 457,038 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of NYSE GE traded down $8.84 during mid-day trading on Friday, hitting $199.90. The company had a trading volume of 5,410,517 shares, compared to its average volume of 5,419,847. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The business's 50-day simple moving average is $186.57 and its 200-day simple moving average is $180.72. General Electric has a 12 month low of $119.88 and a 12 month high of $212.19. The firm has a market cap of $214.55 billion, a P/E ratio of 33.37, a PEG ratio of 2.62 and a beta of 1.22.

General Electric (NYSE:GE - Get Free Report) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating 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%. As a group, 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 given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.72%. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

GE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Bank of America upped their price target on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 27th. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. UBS Group upped 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. Finally, Citigroup upped their price target on shares of General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a report on Monday, January 27th. 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, General Electric has a consensus rating of "Moderate Buy" and an average price target 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.