9,688 Shares in General Electric (NYSE:GE) Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC bought a new stake in shares of General Electric (NYSE:GE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,688 shares of the conglomerate's stock, valued at approximately $1,616,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in General Electric by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate's stock worth $14,980,297,000 after buying an additional 410,172 shares during the last quarter. FMR LLC increased its position in shares of General Electric by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the conglomerate's stock worth $11,145,570,000 after acquiring an additional 965,012 shares in the last quarter. Geode Capital Management LLC raised its position in General Electric by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate's stock valued at $3,846,587,000 after buying an additional 529,457 shares during the period. Norges Bank purchased a new position in General Electric during the fourth quarter valued at approximately $2,375,439,000. Finally, Invesco Ltd. boosted its position in General Electric by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the conglomerate's stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Redburn Atlantic assumed coverage on General Electric in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective on the stock. UBS Group increased their target price on General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their price objective on General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $213.33.

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General Electric Price Performance

Shares of General Electric stock traded down $0.26 during midday trading on Tuesday, hitting $185.74. 4,998,296 shares of the company were exchanged, compared to its average volume of 5,470,622. The firm has a 50 day simple moving average of $197.99 and a 200-day simple moving average of $186.61. General Electric has a 52 week low of $146.78 and a 52 week high of $214.21. The firm has a market cap of $199.35 billion, a P/E ratio of 31.01, a PEG ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

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

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.78%. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's payout ratio is 24.04%.

General Electric Profile

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.