General Electric (NYSE:GE) Shares Purchased by Harbor Advisors LLC

Harbor Advisors LLC boosted its stake in General Electric (NYSE:GE) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the conglomerate’s stock after purchasing an additional 1,000 shares during the period. Harbor Advisors LLC’s holdings in General Electric were worth $1,001,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its stake in shares of General Electric by 29.8% during the third quarter. Advisors Asset Management Inc. now owns 18,706 shares of the conglomerate’s stock valued at $3,528,000 after acquiring an additional 4,294 shares in the last quarter. Moran Wealth Management LLC acquired a new stake in shares of General Electric during the third quarter valued at about $243,000. Citizens Financial Group Inc. RI grew its stake in shares of General Electric by 20.1% during the third quarter. Citizens Financial Group Inc. RI now owns 8,617 shares of the conglomerate’s stock valued at $1,628,000 after acquiring an additional 1,445 shares in the last quarter. LPL Financial LLC grew its stake in shares of General Electric by 5.3% during the third quarter. LPL Financial LLC now owns 842,223 shares of the conglomerate’s stock valued at $158,826,000 after acquiring an additional 42,490 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in shares of General Electric by 6.2% during the third quarter. Eagle Asset Management Inc. now owns 96,832 shares of the conglomerate’s stock worth $17,896,000 after purchasing an additional 5,639 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

GE opened at $203.99 on Friday. The business’s 50 day moving average is $198.63 and its 200-day moving average is $185.01. The stock has a market cap of $218.94 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $133.99 and a twelve month high of $212.19.

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

General Electric Increases Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.71%. 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 dividend payout ratio (DPR) is currently 24.04%.

Analysts Set New Price Targets

GE has been the topic of several research analyst reports. Redburn Atlantic initiated coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Northcoast Research initiated coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Finally, UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.