Horizon Investments LLC Grows Holdings in General Electric (NYSE:GE)

Horizon Investments LLC grew its stake in General Electric (NYSE:GE) by 4.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,844 shares of the conglomerate’s stock after acquiring an additional 754 shares during the period. Horizon Investments LLC’s holdings in General Electric were worth $2,976,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its stake in General Electric by 13.7% during the 4th quarter. Advisors Asset Management Inc. now owns 21,264 shares of the conglomerate’s stock worth $3,547,000 after buying an additional 2,558 shares during the period. Mystic Asset Management Inc. increased its stake in General Electric by 21.8% during the 4th quarter. Mystic Asset Management Inc. now owns 11,943 shares of the conglomerate’s stock worth $1,992,000 after buying an additional 2,137 shares during the period. Dopkins Wealth Management LLC increased its stake in General Electric by 86.2% during the 4th quarter. Dopkins Wealth Management LLC now owns 2,560 shares of the conglomerate’s stock worth $427,000 after buying an additional 1,185 shares during the period. Axxcess Wealth Management LLC increased its stake in General Electric by 0.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 12,536 shares of the conglomerate’s stock worth $2,091,000 after buying an additional 93 shares during the period. Finally, Flagship Wealth Advisors LLC purchased a new stake in General Electric during the 4th quarter worth approximately $254,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. UBS Group boosted their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Bank of America boosted their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Down 0.6 %

Shares of NYSE:GE opened at $200.74 on Wednesday. The stock has a market cap of $215.45 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.59 and a beta of 1.19. The firm has a fifty day moving average price of $196.70 and a 200 day moving average price of $184.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a 1-year low of $133.99 and a 1-year high of $212.19.

General Electric (NYSE:GE) last issued 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%. Sell-side analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared 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. The ex-dividend date is Monday, March 10th. 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 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.