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

Acorn Wealth Advisors LLC grew its holdings in shares of General Electric (NYSE:GE) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,778 shares of the conglomerate’s stock after buying an additional 89 shares during the period. Acorn Wealth Advisors LLC’s holdings in General Electric were worth $463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. increased its stake in shares of General Electric by 69.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,357 shares of the conglomerate’s stock worth $822,000 after acquiring an additional 1,790 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of General Electric by 0.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 30,671 shares of the conglomerate’s stock worth $5,784,000 after buying an additional 209 shares in the last quarter. Arkadios Wealth Advisors grew its stake in General Electric by 2.4% in the 3rd quarter. Arkadios Wealth Advisors now owns 6,023 shares of the conglomerate’s stock valued at $1,136,000 after acquiring an additional 140 shares during the last quarter. NorthCrest Asset Manangement LLC grew its stake in General Electric by 65.9% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,089 shares of the conglomerate’s stock valued at $394,000 after acquiring an additional 830 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its holdings in General Electric by 9.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,275 shares of the conglomerate’s stock valued at $240,000 after acquiring an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price objective 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. UBS Group boosted their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating 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 research report on Monday, January 27th. Finally, Wells Fargo & Company boosted their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Price Performance

GE opened at $198.68 on Tuesday. General Electric has a 1 year low of $122.48 and a 1 year high of $212.19. The company’s 50 day simple moving average is $187.23 and its 200 day simple moving average is $181.22. The stock has a market capitalization of $213.24 billion, a PE ratio of 33.17, a P/E/G ratio of 2.59 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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%. As a group, sell-side analysts expect 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 issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is presently 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.