General Electric (NYSE:GE) Stock Holdings Raised by Wealthspire Advisors LLC

Wealthspire Advisors LLC raised its stake in General Electric (NYSE:GE) by 7.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 21,066 shares of the conglomerate’s stock after purchasing an additional 1,483 shares during the period. Wealthspire Advisors LLC’s holdings in General Electric were worth $3,514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at about $25,000. Peterson Financial Group Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at about $28,000. RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric in the 3rd quarter valued at about $30,000. Hager Investment Management Services LLC acquired a new position in shares of General Electric in the 4th quarter valued at about $27,000. Finally, Costello Asset Management INC boosted its holdings in shares of General Electric by 92.0% in the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock valued at $31,000 after buying an additional 80 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 4.2 %

Shares of NYSE:GE opened at $199.90 on Monday. The company has a 50 day moving average of $186.57 and a 200-day moving average of $180.98. The firm has a market cap of $214.55 billion, a P/E ratio of 33.37, a P/E/G ratio of 2.59 and a beta of 1.22. General Electric has a twelve month low of $119.88 and a twelve month high of $212.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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, analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This is an increase 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 0.72%. General Electric’s payout ratio is presently 18.70%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GE shares. JPMorgan Chase & Co. lifted their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Citigroup lifted their price target on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Bank of America lifted their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Northcoast Research started coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.31.

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.