Modern Wealth Management LLC Has $1.24 Million Stake in General Electric (NYSE:GE)

Modern Wealth Management LLC lifted its stake in shares of General Electric (NYSE:GE) by 25.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,456 shares of the conglomerate’s stock after acquiring an additional 1,522 shares during the period. Modern Wealth Management LLC’s holdings in General Electric were worth $1,244,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GE. Janus Henderson Group PLC lifted its stake 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 buying an additional 1,593,413 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of General Electric in the 4th quarter worth about $194,208,000. Franklin Resources Inc. lifted its position in General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after acquiring an additional 973,135 shares in the last quarter. State Street Corp boosted its stake in General Electric by 2.1% during 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 during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in General Electric by 15,750.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 768,588 shares of the conglomerate’s stock worth $138,368,000 after purchasing an additional 763,739 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Down 2.3 %

General Electric stock opened at $207.33 on Thursday. The firm has a 50 day simple moving average of $200.66 and a 200 day simple moving average of $185.98. 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 1-year low of $133.99 and a 1-year high of $214.21. The firm has a market capitalization of $222.53 billion, a price-to-earnings ratio of 34.61, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend yield of 0.69%. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is presently 24.04%.

Analysts Set New Price Targets

GE has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their target price 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. 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, Wells Fargo & Company increased their price objective 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. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.