General Electric (NYSE:GE) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC increased its position in shares of General Electric (NYSE:GE) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,066 shares of the conglomerate’s stock after acquiring an additional 1,483 shares during the quarter. Wealthspire Advisors LLC’s holdings in General Electric were worth $3,514,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at $25,000. Peterson Financial Group Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at $28,000. RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric in the 3rd quarter valued at $30,000. Hager Investment Management Services LLC acquired a new position in shares of General Electric in the 4th quarter valued at $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 purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of a number of research analyst reports. 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. Wells Fargo & Company lifted their price target on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Redburn Atlantic initiated coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. JPMorgan Chase & Co. raised their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft cut 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. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

General Electric stock opened at $199.90 on Monday. General Electric has a 12-month low of $119.88 and a 12-month high of $212.19. The company has a market capitalization of $214.55 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm’s fifty day moving average price is $186.57 and its 200 day moving average price is $180.98.

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

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.72%. General Electric’s payout ratio is 18.70%.

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.