NewEdge Wealth LLC Has $1.66 Million Stock Holdings in General Electric (NYSE:GE)

NewEdge Wealth LLC boosted its stake in General Electric (NYSE:GE) by 5.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,962 shares of the conglomerate’s stock after buying an additional 488 shares during the period. NewEdge Wealth LLC’s holdings in General Electric were worth $1,662,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the period. Geode Capital Management LLC lifted its holdings in General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the last quarter. Jennison Associates LLC lifted its holdings in General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after purchasing an additional 106,891 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in General Electric by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock valued at $1,128,571,000 after purchasing an additional 115,257 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in General Electric by 6.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock valued at $1,236,428,000 after buying an additional 413,388 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

NYSE GE opened at $207.22 on Friday. The firm’s fifty day moving average price is $190.24 and its two-hundred day moving average price is $182.10. The stock has a market cap of $222.40 billion, a PE ratio of 34.59, a PEG ratio of 2.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a fifty-two week low of $124.08 and a fifty-two week high of $212.19.

General Electric (NYSE:GE) last issued its quarterly earnings data 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 return on equity of 22.19% and a net margin of 14.31%. On average, equities analysts expect that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 24.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GE shares. Wells Fargo & Company lifted their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Redburn Atlantic started coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Finally, Citigroup boosted their price target on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.