Avantax Advisory Services Inc. Raises Stake in General Electric (NYSE:GE)

Avantax Advisory Services Inc. boosted its stake in General Electric (NYSE:GE - Free Report) by 18.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,846 shares of the conglomerate's stock after buying an additional 6,758 shares during the quarter. Avantax Advisory Services Inc.'s holdings in General Electric were worth $7,146,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. State Street Corp boosted its stake in shares of General Electric by 2.1% in the 3rd 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 boosted its position in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the last quarter. Jennison Associates LLC grew its stake in General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock valued at $1,314,080,000 after purchasing an additional 106,891 shares during the period. Bank of New York Mellon Corp increased its position in shares of General Electric by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate's stock valued at $1,128,571,000 after purchasing an additional 115,257 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of General Electric by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate's stock worth $1,122,966,000 after purchasing an additional 202,233 shares during the period. 74.77% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Bank of America raised their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Redburn Atlantic initiated coverage on General Electric in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.31.

General Electric Price Performance

NYSE GE traded up $4.97 during trading on Friday, reaching $197.39. The company's stock had a trading volume of 3,261,093 shares, compared to its average volume of 5,304,231. The firm has a fifty day moving average of $195.54 and a 200 day moving average of $183.82. General Electric has a one year low of $131.91 and a one year high of $212.19. The stock has a market capitalization of $211.85 billion, a PE ratio of 32.95, a P/E/G 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 - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. Analysts expect that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is an increase from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Monday, March 10th. General Electric's payout ratio 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.