Darden Wealth Group Inc Sells 250 Shares of General Electric (NYSE:GE)

Darden Wealth Group Inc lowered its holdings in shares of General Electric (NYSE:GE) by 13.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,551 shares of the conglomerate’s stock after selling 250 shares during the period. Darden Wealth Group Inc’s holdings in General Electric were worth $259,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GE. Norges Bank acquired a new position in shares of General Electric in the fourth quarter valued at about $2,375,439,000. Raymond James Financial Inc. bought a new stake in General Electric in the 4th quarter valued at about $194,208,000. Franklin Resources Inc. grew its position in shares of General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after purchasing an additional 973,135 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of General Electric by 15,750.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 768,588 shares of the conglomerate’s stock worth $138,368,000 after purchasing an additional 763,739 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of General Electric by 74.8% in the fourth quarter. Prudential Financial Inc. now owns 1,369,932 shares of the conglomerate’s stock valued at $228,491,000 after buying an additional 586,045 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

General Electric stock opened at $166.76 on Friday. The company has a market cap of $178.98 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.59 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm’s fifty day moving average is $201.56 and its 200 day moving average is $187.07. General Electric has a 52-week low of $146.78 and a 52-week high of $214.21.

General Electric (NYSE:GE) last posted 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%. Sell-side analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed 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. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is 24.04%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GE. Bank of America increased their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Wells Fargo & Company boosted their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Citigroup boosted their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $214.73.

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.