Charles Schwab Investment Management Inc. grew its stake in shares of General Electric (NYSE:GE - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,732,817 shares of the conglomerate's stock after buying an additional 202,233 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.62% of General Electric worth $1,122,966,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of the stock. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at $25,000. Hager Investment Management Services LLC bought a new position in General Electric during the fourth quarter worth about $27,000. Peterson Financial Group Inc. acquired a new position in General Electric in the third quarter valued at about $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Electric in the fourth quarter worth about $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of General Electric during the third quarter worth about $30,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. 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. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. UBS Group boosted their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Finally, Redburn Atlantic started coverage on General Electric in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $211.31.
View Our Latest Report on GE
General Electric Stock Down 1.0 %
Shares of General Electric stock traded down $1.97 on Friday, reaching $194.08. 7,681,174 shares of the company were exchanged, compared to its average volume of 5,375,542. The company has a market capitalization of $208.31 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 2.59 and a beta of 1.19. 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 has a one year low of $130.38 and a one year high of $212.19. The company has a 50-day moving average of $192.54 and a 200 day moving average of $182.86.
General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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, equities research analysts forecast that General Electric will post 5.4 earnings per share for the current year.
General Electric Increases Dividend
The company also recently announced 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 0.74%. The ex-dividend date of this dividend is Monday, March 10th. General Electric's dividend payout ratio (DPR) is 24.04%.
About General Electric
(
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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