NewEdge Wealth LLC Buys 488 Shares of General Electric (NYSE:GE)

NewEdge Wealth LLC raised its position in General Electric (NYSE:GE) by 5.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 9,962 shares of the conglomerate’s stock after buying an additional 488 shares during the period. NewEdge Wealth LLC’s holdings in General Electric were worth $1,662,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its stake in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Geode Capital Management LLC increased its holdings in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after purchasing an additional 156,272 shares during the last quarter. Jennison Associates LLC lifted its stake in General Electric by 1.4% in the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after buying an additional 106,891 shares during the period. Bank of New York Mellon Corp boosted its holdings in General Electric by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock worth $1,128,571,000 after buying an additional 115,257 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of General Electric by 6.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after buying an additional 413,388 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. UBS Group boosted their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Wells Fargo & Company boosted 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Price Performance

NYSE:GE opened at $207.22 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 fifty day simple moving average of $190.24 and a 200 day simple moving average of $182.10. General Electric has a 1-year low of $124.08 and a 1-year high of $212.19. The stock has a market capitalization of $222.40 billion, a PE ratio of 34.59, a P/E/G ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 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 expect 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 paid 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 yield of 0.69%. General Electric’s dividend payout ratio is currently 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.