1,278 Shares in General Electric (NYSE:GE) Acquired by Partners Wealth Management LLC

Partners Wealth Management LLC acquired a new stake in General Electric (NYSE:GE) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,278 shares of the conglomerate’s stock, valued at approximately $213,000.

Several other institutional investors have also added to or reduced their stakes in the business. Catalyst Capital Advisors LLC boosted its position in shares of General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after buying an additional 146 shares during the last quarter. Johnson & White Wealth Management LLC bought a new position in General Electric during the 4th quarter valued at about $733,000. State Street Corp boosted its holdings in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Soltis Investment Advisors LLC grew its stake in shares of General Electric by 269.8% in the third 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 during the period. Finally, World Investment Advisors LLC raised its holdings in shares of General Electric by 60.7% during the third 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 last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of NYSE GE opened at $199.90 on Monday. The stock has a market cap of $214.55 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. General Electric has a 1 year low of $119.88 and a 1 year high of $212.19. The firm has a fifty day moving average price of $186.57 and a 200-day moving average price of $180.98. 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 issued 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%. Equities 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 declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. General Electric’s payout ratio is currently 18.70%.

Wall Street Analysts Forecast Growth

GE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Redburn Atlantic initiated coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note 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. According to data from MarketBeat, the company currently has a consensus 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.