Naviter Wealth LLC raised its holdings in shares of General Electric (NYSE:GE - Free Report) by 899.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,275 shares of the conglomerate's stock after buying an additional 10,147 shares during the period. Naviter Wealth LLC's holdings in General Electric were worth $1,884,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Blue Barn Wealth LLC increased its stake in shares of General Electric by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate's stock worth $245,000 after purchasing an additional 54 shares in the last quarter. Game Plan Financial Advisors LLC boosted its position 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 acquiring an additional 55 shares during the last quarter. Red Door Wealth Management LLC grew its stake in General Electric by 4.0% during the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate's stock valued at $241,000 after acquiring an additional 56 shares in the last quarter. WR Wealth Planners LLC increased its holdings in General Electric by 30.6% in the 4th quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 56 shares during the last quarter. Finally, Saxon Interests Inc. lifted its stake in General Electric by 4.2% in the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate's stock worth $238,000 after purchasing an additional 57 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.
General Electric Stock Down 1.0 %
Shares of GE stock traded down $1.94 on Tuesday, hitting $190.18. The stock had a trading volume of 2,030,709 shares, compared to its average volume of 5,318,657. 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 company has a market cap of $204.12 billion, a PE ratio of 31.82, a P/E/G ratio of 2.59 and a beta of 1.19. The business has a 50 day moving average price of $193.49 and a 200 day moving average price of $183.35. General Electric has a one year low of $131.14 and a one year 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Research analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal 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 given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.76%. This is an increase from General Electric's previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric's dividend payout ratio is presently 24.04%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on GE shares. UBS Group boosted their target price on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Redburn Atlantic assumed coverage on General Electric in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective on the stock. Citigroup raised 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. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Finally, Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating for the company. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $211.31.
Read Our Latest Report on GE
General Electric Company 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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