Meridian Wealth Management LLC Buys 5,913 Shares of General Electric (NYSE:GE)

Meridian Wealth Management LLC increased its position in General Electric (NYSE:GE - Free Report) by 53.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,921 shares of the conglomerate's stock after acquiring an additional 5,913 shares during the quarter. Meridian Wealth Management LLC's holdings in General Electric were worth $2,822,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new position in shares of General Electric during the third quarter worth approximately $25,000. Peterson Financial Group Inc. bought a new position in General Electric during the third quarter worth $28,000. RPg Family Wealth Advisory LLC acquired a new position in General Electric during the 3rd quarter valued at $30,000. Hager Investment Management Services LLC bought a new stake in General Electric in the 4th quarter valued at $27,000. Finally, Costello Asset Management INC grew its position in General Electric by 92.0% in the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate's stock worth $31,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GE. JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Wells Fargo & Company upped their price target on General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Redburn Atlantic began coverage on General Electric in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price for the company. Finally, Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They issued a "neutral" rating for the company. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.31.

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General Electric Price Performance

Shares of General Electric stock traded down $1.97 during mid-day trading on Friday, reaching $194.08. 7,679,114 shares of the stock were exchanged, compared to its average volume of 5,375,486. General Electric has a fifty-two week low of $130.38 and a fifty-two week high of $212.19. The company has a market cap of $208.31 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The firm has a 50-day simple moving average of $192.54 and a 200 day simple moving average of $182.86. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

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%. On average, sell-side analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.74%. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's payout ratio is currently 24.04%.

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.