General Electric (NYSE:GE) Shares Purchased by Acorn Wealth Advisors LLC

Acorn Wealth Advisors LLC lifted its holdings in General Electric (NYSE:GE) by 3.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,778 shares of the conglomerate’s stock after buying an additional 89 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in General Electric were worth $463,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Valley Wealth Managers Inc. acquired a new stake in General Electric in the 3rd quarter valued at $25,000. Hager Investment Management Services LLC purchased a new stake in shares of General Electric in the fourth quarter worth about $27,000. Peterson Financial Group Inc. purchased a new stake in shares of General Electric in the third quarter worth about $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric in the fourth quarter valued at about $29,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of General Electric during the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 0.6 %

Shares of NYSE GE opened at $198.68 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock’s 50 day moving average price is $187.23 and its two-hundred day moving average price is $181.22. General Electric has a 52-week low of $122.48 and a 52-week high of $212.19. The stock has a market capitalization of $213.24 billion, a P/E ratio of 33.17, a PEG ratio of 2.59 and a beta of 1.21.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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 anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared 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 is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

Analysts Set New Price Targets

A number of research firms have weighed in on GE. Citigroup upped their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Bank of America boosted their price objective 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, 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 research note on Friday, January 24th. Three equities research 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

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.