General Electric (NYSE:GE) Shares Bought by Blue Barn Wealth LLC

Blue Barn Wealth LLC raised its stake in General Electric (NYSE:GE) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,466 shares of the conglomerate’s stock after purchasing an additional 54 shares during the quarter. Blue Barn Wealth LLC’s holdings in General Electric were worth $245,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GE. Jennison Associates LLC increased its stake in General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after acquiring an additional 1,593,413 shares in the last quarter. Raymond James Financial Inc. purchased a new position in General Electric during the fourth quarter worth about $194,208,000. Franklin Resources Inc. lifted its position in General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after purchasing an additional 973,135 shares during the period. Finally, State Street Corp boosted its holdings in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GE. Redburn Atlantic initiated coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Bank of America upped their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, UBS Group upped their target price 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 equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Trading Up 1.9 %

General Electric stock opened at $202.61 on Thursday. The stock has a 50-day moving average price of $192.06 and a 200 day moving average price of $182.77. General Electric has a 52 week low of $126.78 and a 52 week high of $212.19. The stock has a market cap of $217.46 billion, a PE ratio of 33.83, a P/E/G 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 (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. Equities research analysts predict that General Electric will post 5.4 earnings per share 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. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 24.04%.

About General Electric

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.