Advisory Services Network LLC Has $8.50 Million Stock Holdings in General Electric (NYSE:GE)

Advisory Services Network LLC raised its position in General Electric (NYSE:GE) by 12.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,935 shares of the conglomerate’s stock after acquiring an additional 5,754 shares during the period. Advisory Services Network LLC’s holdings in General Electric were worth $8,495,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. New Age Alpha Advisors LLC lifted its position in General Electric by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 84 shares during the period. Hager Investment Management Services LLC acquired a new position in shares of General Electric in the 4th quarter valued at $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of General Electric during the 4th quarter worth about $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric during the 4th quarter valued at about $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new stake in General Electric in the fourth quarter valued at about $29,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.8 %

Shares of GE opened at $169.05 on Wednesday. The stock’s fifty day simple moving average is $199.92 and its 200-day simple moving average is $186.71. The firm has a market capitalization of $181.44 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. General Electric has a 12-month low of $146.78 and a 12-month high of $214.21. 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) last released its earnings results 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 net margin of 14.31% and a return on equity of 22.19%. As a group, research analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a boost 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 0.85%. General Electric’s payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GE. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. 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 target on the stock. JPMorgan Chase & Co. increased their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced 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. Finally, Wells Fargo & Company dropped their target price on shares of General Electric from $250.00 to $203.00 and set an “overweight” rating for the company in a research report on Tuesday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.60.

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.