Family Legacy Inc. Raises Position in General Electric (NYSE:GE)

Family Legacy Inc. lifted its stake in shares of General Electric (NYSE:GE) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,010 shares of the conglomerate’s stock after buying an additional 500 shares during the quarter. Family Legacy Inc.’s holdings in General Electric were worth $2,422,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of General Electric by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock worth $14,980,297,000 after purchasing an additional 410,172 shares in the last quarter. State Street Corp lifted its holdings in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Geode Capital Management LLC lifted its holdings in General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after buying an additional 156,272 shares in the last quarter. Norges Bank purchased a new position in General Electric in the 4th quarter valued at about $2,375,439,000. Finally, Jennison Associates LLC grew its stake in shares of General Electric by 1.4% during the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after acquiring an additional 106,891 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of GE opened at $199.66 on Monday. The company has a market cap of $214.29 billion, a P/E ratio of 33.33, a PEG ratio of 2.59 and a beta of 1.19. The stock has a fifty day moving average price of $201.52 and a 200 day moving average price of $186.64. General Electric has a 12 month low of $133.99 and a 12 month high of $214.21. 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 announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping 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, research analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. 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 annualized dividend and a dividend yield of 0.72%. General Electric’s dividend payout ratio (DPR) is 24.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GE shares. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Bank of America lifted their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. 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. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus 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.