Wealthspire Advisors LLC Increases Position in General Electric (NYSE:GE)

Wealthspire Advisors LLC increased its stake in shares of General Electric (NYSE:GE - Free Report) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,066 shares of the conglomerate's stock after buying an additional 1,483 shares during the quarter. Wealthspire Advisors LLC's holdings in General Electric were worth $3,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new stake in General Electric in the 3rd quarter valued at about $25,000. Hager Investment Management Services LLC purchased a new stake in shares of General Electric during the fourth quarter valued at approximately $27,000. Peterson Financial Group Inc. purchased a new stake in shares of General Electric during the third quarter valued at approximately $28,000. Sugar Maple Asset Management LLC bought a new stake in General Electric during the fourth quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in General Electric in the third quarter worth $30,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft decreased 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 note on Thursday, January 2nd. Finally, 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. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, General Electric has an average rating of "Moderate Buy" and an average target price of $211.31.

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General Electric Stock Performance

Shares of NYSE:GE traded down $0.21 during midday trading on Thursday, reaching $201.40. 3,478,607 shares of the company traded hands, compared to its average volume of 5,245,807. The firm's fifty day moving average price is $188.73 and its two-hundred day moving average price is $181.58. The firm has a market capitalization of $216.17 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 12 month low of $123.06 and a 12 month high of $212.19.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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, equities analysts expect 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. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This is a boost from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.71%. General Electric's dividend 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.