General Electric (NYSE:GE) Stock Position Raised by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC lifted its holdings in shares of General Electric (NYSE:GE) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,098 shares of the conglomerate’s stock after buying an additional 128 shares during the period. Ascent Wealth Partners LLC’s holdings in General Electric were worth $350,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Valley Wealth Managers Inc. acquired a new position in General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the 3rd quarter valued at about $27,000. Hager Investment Management Services LLC acquired a new position in General Electric during the 4th quarter valued at about $27,000. Peterson Financial Group Inc. acquired a new position in General Electric during the 3rd quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in General Electric during the 4th quarter valued at about $29,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 4.2 %

GE stock opened at $199.90 on Friday. General Electric has a 52-week low of $119.88 and a 52-week high of $212.19. The company’s 50 day simple moving average is $186.57 and its 200-day simple moving average is $180.85. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market capitalization of $214.55 billion, a P/E ratio of 33.37, a P/E/G ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (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%. As a group, equities research analysts anticipate that General Electric will post 5.4 EPS 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 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 a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 18.70%.

Analysts Set New Price Targets

A number of research analysts have issued reports on GE shares. Bank of America boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Wells Fargo & Company upped their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Company 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.