HighTower Advisors LLC Acquires 14,769 Shares of General Electric (NYSE:GE)

HighTower Advisors LLC grew its holdings in General Electric (NYSE:GE - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 452,517 shares of the conglomerate's stock after buying an additional 14,769 shares during the quarter. HighTower Advisors LLC's holdings in General Electric were worth $75,475,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in GE. Blue Barn Wealth LLC lifted its holdings in shares of General Electric by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate's stock worth $245,000 after buying an additional 54 shares in the last quarter. Game Plan Financial Advisors LLC lifted its holdings in shares of General Electric by 10.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate's stock worth $96,000 after buying an additional 55 shares in the last quarter. Red Door Wealth Management LLC lifted its holdings in shares of General Electric by 4.0% during the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate's stock worth $241,000 after buying an additional 56 shares in the last quarter. WR Wealth Planners LLC lifted its holdings in shares of General Electric by 30.6% during the fourth quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate's stock worth $40,000 after buying an additional 56 shares in the last quarter. Finally, Saxon Interests Inc. lifted its holdings in shares of General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate's stock worth $238,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts recently commented on GE shares. Citigroup boosted their price target on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating for the company. Redburn Atlantic started coverage on General Electric in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price target 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, JPMorgan Chase & Co. boosted their price target on General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $211.31.

General Electric Trading Down 1.4 %

Shares of NYSE:GE traded down $2.72 during midday trading on Thursday, hitting $192.28. 3,834,830 shares of the stock were exchanged, compared to its average volume of 5,346,790. The stock has a market capitalization of $206.37 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 2.59 and a beta of 1.19. 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 business's 50-day moving average price is $195.04 and its 200 day moving average price is $183.64. General Electric has a 12 month low of $131.91 and a 12 month high of $212.19.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings results 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 return on equity of 22.19% and a net margin of 14.31%. Analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a boost from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Monday, March 10th. General Electric's payout ratio is 24.04%.

About General Electric

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.