Sequoia Financial Advisors LLC Grows Position in General Electric (NYSE:GE)

Sequoia Financial Advisors LLC increased its position in shares of General Electric (NYSE:GE) by 27.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,678 shares of the conglomerate’s stock after purchasing an additional 14,331 shares during the period. Sequoia Financial Advisors LLC’s holdings in General Electric were worth $11,121,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new position in shares of General Electric during the 3rd quarter worth about $25,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric during the 3rd quarter worth about $28,000. RPg Family Wealth Advisory LLC purchased a new position in shares of General Electric during the 3rd quarter worth about $30,000. Hager Investment Management Services LLC purchased a new stake in General Electric in the 4th quarter valued at about $27,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in General Electric in the 4th quarter valued at about $29,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Up 1.8 %

NYSE GE opened at $195.21 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $209.52 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a 50 day moving average price of $194.56 and a 200 day moving average price of $183.58. General Electric has a 52 week low of $131.91 and a 52 week high of $212.19.

General Electric (NYSE:GE) last posted its quarterly earnings data 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%. As a group, sell-side analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is 24.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Redburn Atlantic assumed coverage on shares of General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Wells Fargo & Company boosted their price objective 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. Citigroup boosted their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Two 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.31.

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.