Palacios Wealth Management LLC purchased a new stake in shares of General Electric (NYSE:GE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,281 shares of the conglomerate's stock, valued at approximately $231,000.
Several other large investors have also recently modified their holdings of GE. State Street Corp increased its stake in General Electric by 2.1% during 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock valued at $4,244,676,000 after buying an additional 156,272 shares during the last quarter. Jennison Associates LLC increased its position in shares of General Electric by 1.4% during the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock valued at $1,314,080,000 after acquiring an additional 106,891 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in General Electric by 6.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate's stock worth $1,236,428,000 after acquiring an additional 413,388 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in General Electric by 12.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate's stock valued at $774,458,000 after acquiring an additional 457,038 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.
General Electric Stock Performance
NYSE:GE traded up $0.26 during mid-day trading on Monday, hitting $208.62. 4,267,083 shares of the company traded hands, compared to its average volume of 6,009,583. 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's fifty day moving average price is $182.66 and its 200-day moving average price is $179.40. The firm has a market cap of $223.91 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. General Electric has a one year low of $117.43 and a one year high of $211.42.
General Electric (NYSE:GE - Get Free Report) last released its 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 return on equity of 22.19% and a net margin of 14.31%. Research analysts anticipate that General Electric will post 5.39 earnings per share 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. Shareholders of record on Monday, March 10th will be paid 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 yield of 0.69%. General Electric's payout ratio is presently 18.70%.
Analysts Set New Price Targets
GE has been the subject of a number of research 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 report on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Royal Bank of Canada restated an "outperform" rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Wells Fargo & Company lifted their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Finally, Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a "neutral" rating on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $208.73.
Check Out Our Latest Report on General Electric
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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