Uniting Wealth Partners LLC Takes $254,000 Position in General Electric (NYSE:GE)

Uniting Wealth Partners LLC acquired a new position in shares of General Electric (NYSE:GE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,521 shares of the conglomerate’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GE. Arete Wealth Advisors LLC lifted its stake in General Electric by 25.6% during the fourth quarter. Arete Wealth Advisors LLC now owns 7,163 shares of the conglomerate’s stock worth $1,195,000 after purchasing an additional 1,460 shares in the last quarter. World Investment Advisors lifted its stake in General Electric by 7.6% during the 4th quarter. World Investment Advisors now owns 14,698 shares of the conglomerate’s stock worth $2,451,000 after acquiring an additional 1,036 shares in the last quarter. Nicolet Advisory Services LLC boosted its holdings in General Electric by 9.3% during the 4th quarter. Nicolet Advisory Services LLC now owns 4,821 shares of the conglomerate’s stock valued at $828,000 after acquiring an additional 412 shares during the period. Biltmore Family Office LLC grew its position in General Electric by 13.6% in the 4th quarter. Biltmore Family Office LLC now owns 1,377 shares of the conglomerate’s stock valued at $230,000 after acquiring an additional 165 shares in the last quarter. Finally, OneAscent Financial Services LLC boosted its stake in shares of General Electric by 3.2% in the fourth quarter. OneAscent Financial Services LLC now owns 3,416 shares of the conglomerate’s stock valued at $570,000 after purchasing an additional 105 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GE. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Wells Fargo & Company boosted their price target on shares of General Electric from $225.00 to $250.00 and gave the stock 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 issued a “neutral” rating on the stock. Redburn Atlantic started coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Finally, Bank of America upped their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Performance

GE opened at $199.80 on Thursday. The business has a 50 day moving average price of $202.43 and a two-hundred day moving average price of $187.12. General Electric has a 1-year low of $138.01 and a 1-year high of $214.21. The company has a market capitalization of $214.44 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. 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 (NYSE:GE) last posted 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%. Research analysts predict 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. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. 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 (DPR) is presently 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.