Millstone Evans Group LLC Takes $868,000 Position in General Electric (NYSE:GE)

Millstone Evans Group LLC purchased a new stake in General Electric (NYSE:GE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 5,202 shares of the conglomerate's stock, valued at approximately $868,000.

A number of other hedge funds have also recently made changes to their positions in GE. Johnson & White Wealth Management LLC acquired a new position in General Electric during the 4th quarter valued at about $733,000. Chung Wu Investment Group LLC acquired a new position in shares of General Electric during the fourth quarter valued at about $795,000. State Street Corp raised its position in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Soltis Investment Advisors LLC boosted its stake in General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate's stock worth $5,318,000 after purchasing an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC raised its holdings in shares of General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate's stock worth $2,576,000 after buying an additional 5,162 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on GE. Bank of America boosted their price target 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 lowered their price objective on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Citigroup lifted their target price 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. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Finally, UBS Group lifted their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $211.31.

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General Electric Trading Up 0.7 %

NYSE GE traded up $1.42 on Tuesday, reaching $211.65. The stock had a trading volume of 1,593,121 shares, compared to its average volume of 5,153,698. General Electric has a 12-month low of $133.99 and a 12-month high of $212.76. 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 stock has a fifty day moving average price of $199.41 and a two-hundred day moving average price of $185.47. The firm has a market capitalization of $227.16 billion, a price-to-earnings ratio of 35.33, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly 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 net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This is an increase from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.68%. General Electric's payout ratio is currently 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.