Savvy Advisors Inc. Boosts Holdings in General Electric (NYSE:GE)

Savvy Advisors Inc. boosted its holdings in General Electric (NYSE:GE - Free Report) by 142.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,230 shares of the conglomerate's stock after acquiring an additional 4,249 shares during the period. Savvy Advisors Inc.'s holdings in General Electric were worth $1,206,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Johnson & White Wealth Management LLC purchased a new stake in shares of General Electric in the 4th quarter valued at $733,000. Chung Wu Investment Group LLC acquired a new stake in shares of General Electric during the fourth quarter worth about $795,000. National Bank of Canada FI boosted its stake in shares of General Electric by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the conglomerate's stock valued at $177,535,000 after purchasing an additional 29,844 shares during the period. World Investment Advisors LLC grew 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 valued at $2,576,000 after purchasing an additional 5,162 shares in the last quarter. Finally, National Pension Service increased its stake in General Electric by 1.7% during the 4th quarter. National Pension Service now owns 2,254,637 shares of the conglomerate's stock worth $376,051,000 after buying an additional 37,884 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GE has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target on shares of General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Redburn Atlantic began coverage on General Electric in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. Northcoast Research upgraded General Electric from a "neutral" rating to a "buy" rating and set a $205.00 price target on the stock in a report on Wednesday, April 9th. Wells Fargo & Company lifted their price objective on General Electric from $203.00 to $212.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut 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. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.33.

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General Electric Price Performance

General Electric stock traded down $0.26 during trading hours on Tuesday, hitting $185.74. The stock had a trading volume of 4,998,296 shares, compared to its average volume of 5,466,825. General Electric has a 1-year low of $146.78 and a 1-year high of $214.21. The stock has a market capitalization of $199.35 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 2.59 and a beta of 1.04. The stock's fifty day moving average is $197.99 and its two-hundred day moving average is $186.61. 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, 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, analysts predict that General Electric will post 5.4 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. Investors of record on Monday, March 10th will be given 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 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Monday, March 10th. 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.