Centricity Wealth Management LLC Acquires Shares of 1,001 General Electric (NYSE:GE)

Centricity Wealth Management LLC bought a new stake in General Electric (NYSE:GE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,001 shares of the conglomerate’s stock, valued at approximately $167,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Valley Wealth Managers Inc. acquired a new position in General Electric in the third quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in General Electric during the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. acquired a new position in shares of General Electric in the 3rd quarter worth approximately $28,000. RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $30,000. Finally, Hager Investment Management Services LLC bought a new position in General Electric during the fourth quarter worth $27,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Price Performance

Shares of GE opened at $208.93 on Friday. General Electric has a one year low of $118.13 and a one year high of $212.19. The stock’s fifty day moving average is $185.89 and its 200-day moving average is $180.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a market capitalization of $224.24 billion, a price-to-earnings ratio of 34.88, a price-to-earnings-growth ratio of 2.62 and a beta of 1.22.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. Equities analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently declared 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 positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GE shares. Bank of America increased their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Redburn Atlantic began coverage on shares of General Electric in a research note on Tuesday. They set a “buy” rating and a $250.00 price objective on the stock. Wells Fargo & Company lifted their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Finally, Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.