Wellington Shields Capital Management LLC Raises Position in General Electric (NYSE:GE)

Wellington Shields Capital Management LLC lifted its position in shares of General Electric (NYSE:GE) by 378.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,676 shares of the conglomerate’s stock after acquiring an additional 40,886 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in General Electric were worth $8,619,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV grew its stake in shares of General Electric by 14.2% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 2,305 shares of the conglomerate’s stock worth $435,000 after purchasing an additional 287 shares during the period. Aigen Investment Management LP purchased a new stake in General Electric during the third quarter worth about $460,000. Aptus Capital Advisors LLC grew its position in General Electric by 14.9% during the third quarter. Aptus Capital Advisors LLC now owns 11,707 shares of the conglomerate’s stock worth $2,208,000 after buying an additional 1,517 shares during the period. Pinnacle Financial Partners Inc increased its holdings in General Electric by 7.9% in the third quarter. Pinnacle Financial Partners Inc now owns 6,978 shares of the conglomerate’s stock valued at $1,316,000 after buying an additional 510 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of General Electric by 14.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,013 shares of the conglomerate’s stock valued at $757,000 after acquiring an additional 513 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Citigroup upped their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. UBS Group increased their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Northcoast Research started coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Down 1.4 %

Shares of NYSE:GE opened at $192.28 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market cap of $206.37 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 2.59 and a beta of 1.19. The stock’s 50-day moving average price is $195.04 and its two-hundred day moving average price is $183.64. General Electric has a 12-month low of $131.91 and a 12-month high of $212.19.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is 24.04%.

General Electric 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.