10,831 Shares in General Electric (NYSE:GE) Purchased by Providence First Trust Co

Providence First Trust Co bought a new position in General Electric (NYSE:GE - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,831 shares of the conglomerate's stock, valued at approximately $1,807,000.

Several other institutional investors also recently modified their holdings of the business. State Street Corp raised its stake in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock valued at $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Geode Capital Management LLC raised its position in shares of General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the last quarter. Jennison Associates LLC boosted its stake in General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock worth $1,314,080,000 after purchasing an additional 106,891 shares in the last quarter. Bank of New York Mellon Corp grew its position in General Electric by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate's stock valued at $1,128,571,000 after purchasing an additional 115,257 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in General Electric by 6.7% during 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 valued at $1,236,428,000 after purchasing an additional 413,388 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Redburn Atlantic started coverage on General Electric in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. UBS Group boosted their price target on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Finally, Bank of America increased their price objective on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $211.31.

General Electric Stock Performance

GE stock traded up $3.84 during midday trading on Wednesday, reaching $202.61. 6,212,739 shares of the company's stock traded hands, compared to its average volume of 5,314,580. The stock's 50-day moving average is $191.44 and its 200 day moving average is $182.63. The stock has a market cap of $217.46 billion, a P/E ratio of 33.83, a PEG ratio of 2.59 and a beta of 1.22. General Electric has a 52-week low of $126.78 and a 52-week high of $212.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. As a group, analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. 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 0.71%. 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.