Florida Financial Advisors LLC Buys 329 Shares of General Electric (NYSE:GE)

Florida Financial Advisors LLC boosted its stake in General Electric (NYSE:GE) by 30.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,427 shares of the conglomerate’s stock after acquiring an additional 329 shares during the period. Florida Financial Advisors LLC’s holdings in General Electric were worth $238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Johnson & White Wealth Management LLC bought a new stake in shares of General Electric in the 4th quarter valued at $733,000. Chung Wu Investment Group LLC bought a new stake in General Electric during the fourth quarter valued at $795,000. State Street Corp grew its holdings in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the period. Soltis Investment Advisors LLC raised its position in shares of General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after acquiring an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC lifted its stake in shares of General Electric by 60.7% in the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after purchasing an additional 5,162 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on GE. JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Citigroup lifted their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Redburn Atlantic assumed coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company increased their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

GE opened at $212.18 on Wednesday. General Electric has a 1 year low of $133.99 and a 1 year high of $212.76. 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 company has a market capitalization of $227.73 billion, a price-to-earnings ratio of 35.42, a P/E/G ratio of 2.59 and a beta of 1.19. The firm’s fifty day moving average price is $200.12 and its two-hundred day moving average price is $185.83.

General Electric (NYSE:GE) last issued its quarterly earnings data 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 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. Stockholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s payout ratio is presently 24.04%.

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.