Sequoia Financial Advisors LLC Purchases 14,331 Shares of General Electric (NYSE:GE)

Sequoia Financial Advisors LLC increased its position in General Electric (NYSE:GE - Free Report) by 27.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,678 shares of the conglomerate's stock after purchasing an additional 14,331 shares during the period. Sequoia Financial Advisors LLC's holdings in General Electric were worth $11,121,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp lifted 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 acquiring an additional 898,296 shares in the last quarter. Geode Capital Management LLC lifted its stake in General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock valued at $4,244,676,000 after acquiring an additional 156,272 shares in the last quarter. Jennison Associates LLC lifted its stake in General Electric by 1.4% during the 4th 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. Bank of New York Mellon Corp lifted its stake 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 acquiring an additional 115,257 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in General Electric by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate's stock valued at $1,122,966,000 after acquiring an additional 202,233 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group raised their price objective on General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Citigroup raised their price objective on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They set a "neutral" rating on the stock. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.31.

General Electric Stock Performance

GE traded down $2.72 during trading hours on Thursday, hitting $192.28. The stock had a trading volume of 3,834,830 shares, compared to its average volume of 5,346,790. The company's fifty day simple moving average is $195.04 and its 200 day simple moving average is $183.64. General Electric has a 1 year low of $131.91 and a 1 year high of $212.19. The stock has a market cap of $206.37 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

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 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%. Equities analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a positive change from General Electric's previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.75%. General Electric's payout ratio is presently 24.04%.

General Electric Company 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.