Independent Advisor Alliance Has $4.65 Million Stake in General Electric (NYSE:GE)

Independent Advisor Alliance raised its position in shares of General Electric (NYSE:GE) by 21.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,886 shares of the conglomerate’s stock after acquiring an additional 4,943 shares during the quarter. Independent Advisor Alliance’s holdings in General Electric were worth $4,651,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Atria Investments Inc grew its stake in General Electric by 15.7% during the third quarter. Atria Investments Inc now owns 23,407 shares of the conglomerate’s stock worth $4,414,000 after purchasing an additional 3,179 shares during the period. Axxcess Wealth Management LLC lifted its stake in General Electric by 41.8% in the third quarter. Axxcess Wealth Management LLC now owns 12,443 shares of the conglomerate’s stock valued at $2,347,000 after buying an additional 3,671 shares during the period. Legacy Capital Wealth Partners LLC bought a new position in shares of General Electric during the 3rd quarter worth approximately $210,000. Tyler Stone Wealth Management grew its position in shares of General Electric by 116.8% during the 3rd quarter. Tyler Stone Wealth Management now owns 1,316 shares of the conglomerate’s stock worth $248,000 after buying an additional 709 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in shares of General Electric in the 3rd quarter valued at $165,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Finally, Redburn Atlantic assumed coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Performance

Shares of 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. The firm has a 50-day moving average of $193.99 and a 200-day moving average of $183.50. General Electric has a one year low of $131.14 and a one year high of $212.19. The company has a market cap of $205.95 billion, a P/E ratio of 32.03, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. Equities research 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. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.75%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 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.