Envestnet Asset Management Inc. Has $212.94 Million Stake in General Electric (NYSE:GE)

Envestnet Asset Management Inc. boosted its holdings in General Electric (NYSE:GE - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,276,696 shares of the conglomerate's stock after buying an additional 112,849 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of General Electric worth $212,940,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC grew its stake in shares of General Electric by 26.2% during the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate's stock valued at $39,000 after acquiring an additional 49 shares in the last quarter. Ballast Advisors LLC boosted its holdings in General Electric by 2.5% in the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate's stock valued at $349,000 after purchasing an additional 51 shares during the last quarter. Blue Barn Wealth LLC grew its stake in General Electric by 3.8% during the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate's stock valued at $245,000 after purchasing an additional 54 shares in the last quarter. Game Plan Financial Advisors LLC increased its holdings in General Electric by 10.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate's stock worth $96,000 after purchasing an additional 55 shares during the last quarter. Finally, Red Door Wealth Management LLC raised its position in shares of General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate's stock valued at $241,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

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General Electric Price Performance

Shares of GE stock traded down $8.42 during midday trading on Thursday, reaching $178.85. 3,902,452 shares of the company were exchanged, compared to its average volume of 5,471,145. The company's 50 day moving average price is $199.23 and its two-hundred day moving average price is $186.70. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market cap of $191.96 billion, a P/E ratio of 29.70, a PEG ratio of 2.59 and a beta of 1.04. General Electric has a 12 month low of $146.78 and a 12 month high of $214.21.

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, 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%. On average, sell-side analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently announced 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 represents a $1.44 dividend on an annualized basis and a dividend yield of 0.81%. 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 payout ratio is presently 24.04%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GE shares. UBS Group lifted their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Redburn Atlantic started coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price on the stock. Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 27th. Citigroup reduced their target price on General Electric from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Royal Bank of Canada restated an "outperform" rating and set a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $212.73.

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.