Founders Financial Alliance LLC Acquires 97 Shares of General Electric (NYSE:GE)

Founders Financial Alliance LLC increased its holdings in General Electric (NYSE:GE) by 2.8% during the fourth quarter, Holdings Channel reports. The firm owned 3,570 shares of the conglomerate’s stock after acquiring an additional 97 shares during the quarter. Founders Financial Alliance LLC’s holdings in General Electric were worth $595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GE. Cornerstone Advisors LLC grew its stake in General Electric by 3.6% during the fourth quarter. Cornerstone Advisors LLC now owns 52,300 shares of the conglomerate’s stock valued at $8,723,000 after acquiring an additional 1,800 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of General Electric by 28.2% during the 4th quarter. Citizens Financial Group Inc. RI now owns 11,048 shares of the conglomerate’s stock valued at $1,843,000 after purchasing an additional 2,431 shares during the last quarter. Sage Mountain Advisors LLC grew its position in shares of General Electric by 10.3% during the fourth quarter. Sage Mountain Advisors LLC now owns 4,842 shares of the conglomerate’s stock valued at $808,000 after purchasing an additional 451 shares in the last quarter. Dearborn Partners LLC bought a new stake in shares of General Electric in the fourth quarter worth about $217,000. Finally, Bluegrass Capital Partners LP lifted its position in shares of General Electric by 8.8% in the fourth quarter. Bluegrass Capital Partners LP now owns 62,000 shares of the conglomerate’s stock worth $10,341,000 after buying an additional 5,000 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut their price target 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 started coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Citigroup boosted their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company increased their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Northcoast Research started coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Down 1.2 %

Shares of NYSE:GE opened at $191.61 on Tuesday. The firm has a market capitalization of $205.65 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The business has a 50 day simple moving average of $193.49 and a two-hundred day simple moving average of $183.35. General Electric has a 1 year low of $130.38 and a 1 year high of $212.19. 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) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. On average, equities analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost 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 0.75%. General Electric’s dividend 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.