Xponance Inc. increased its stake in shares of General Electric (NYSE:GE - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,264 shares of the conglomerate's stock after buying an additional 2,490 shares during the quarter. Xponance Inc.'s holdings in General Electric were worth $29,399,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. grew its stake in shares of General Electric by 14.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,013 shares of the conglomerate's stock worth $757,000 after purchasing an additional 513 shares in the last quarter. Adero Partners LLC bought a new position in shares of General Electric in the third quarter worth $232,000. Tower Bridge Advisors grew its stake in shares of General Electric by 29.6% in the third quarter. Tower Bridge Advisors now owns 2,630 shares of the conglomerate's stock worth $496,000 after purchasing an additional 600 shares in the last quarter. Claro Advisors LLC grew its stake in shares of General Electric by 13.5% in the third quarter. Claro Advisors LLC now owns 4,795 shares of the conglomerate's stock worth $904,000 after purchasing an additional 571 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of General Electric by 34.7% in the third quarter. Thrivent Financial for Lutherans now owns 76,795 shares of the conglomerate's stock worth $14,483,000 after purchasing an additional 19,766 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on GE shares. Wells Fargo & Company increased their price target on General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. increased their price target on General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. Finally, Citigroup raised their target price on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric currently has a consensus rating of "Moderate Buy" and an average price target of $211.31.
View Our Latest Stock Analysis on GE
General Electric Trading Up 0.0 %
Shares of NYSE GE traded up $0.06 during mid-day trading on Friday, hitting $203.99. 7,960,224 shares of the company traded hands, compared to its average volume of 5,362,304. General Electric has a 1 year low of $133.99 and a 1 year high of $212.19. The stock has a market capitalization of $218.94 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 2.59 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The business has a 50 day moving average of $198.63 and a two-hundred day moving average of $184.87.
General Electric (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate 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 anticipate that General Electric will post 5.4 earnings per share 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. Investors of record on Monday, March 10th will be paid a $0.36 dividend. This is an increase from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.71%. The ex-dividend date is Monday, March 10th. General Electric's dividend payout ratio is currently 24.04%.
General Electric Profile
(
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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