Modera Wealth Management LLC Has $1.94 Million Position in General Electric (NYSE:GE)

Modera Wealth Management LLC decreased its holdings in shares of General Electric (NYSE:GE) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,637 shares of the conglomerate’s stock after selling 460 shares during the period. Modera Wealth Management LLC’s holdings in General Electric were worth $1,941,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GE. Jennison Associates LLC grew its stake in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after purchasing an additional 1,593,413 shares during the last quarter. Franklin Resources Inc. increased its stake in General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after buying an additional 973,135 shares during the last quarter. State Street Corp increased its stake in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of General Electric by 26,959.5% during the 4th quarter. Proficio Capital Partners LLC now owns 554,991 shares of the conglomerate’s stock worth $92,567,000 after buying an additional 552,940 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

NYSE:GE opened at $201.91 on Tuesday. The business’s fifty day moving average is $190.89 and its 200 day moving average is $182.42. The firm has a market cap of $216.71 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 2.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a 52-week low of $125.26 and a 52-week high of $212.19.

General Electric (NYSE:GE) last announced its quarterly 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 return on equity of 22.19% and a net margin of 14.31%. 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. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.71%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Redburn Atlantic started coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Citigroup boosted their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada restated 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 increased their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Three research 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 company presently has an average rating of “Moderate Buy” and an average target price of $211.31.

About General Electric

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.