Prosperity Wealth Management Inc. Invests $590,000 in General Electric (NYSE:GE)

Prosperity Wealth Management Inc. acquired a new stake in General Electric (NYSE:GE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,537 shares of the conglomerate’s stock, valued at approximately $590,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Barn Wealth LLC grew its position in General Electric by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after buying an additional 54 shares during the period. Game Plan Financial Advisors LLC lifted its stake in shares of General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after buying an additional 55 shares in the last quarter. Red Door Wealth Management LLC lifted its stake in shares of General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after buying an additional 56 shares in the last quarter. WR Wealth Planners LLC raised its stake in General Electric by 30.6% during the fourth quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 56 shares during the period. Finally, Saxon Interests Inc. raised its stake in General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Redburn Atlantic assumed coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their price target 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. 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. Finally, Citigroup lifted their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Down 0.1 %

GE stock opened at $191.89 on Wednesday. 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 has a 1-year low of $131.14 and a 1-year high of $212.19. The firm has a fifty day moving average price of $193.99 and a two-hundred day moving average price of $183.50. The firm has a market cap of $205.95 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating 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%. Research analysts predict that General Electric will post 5.4 EPS 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 issued a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.75%. General Electric’s payout ratio is 24.04%.

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.