General Electric (NYSE:GE) Stock Position Raised by Mission Wealth Management LP

Mission Wealth Management LP lifted its stake in shares of General Electric (NYSE:GE) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,512 shares of the conglomerate’s stock after purchasing an additional 781 shares during the period. Mission Wealth Management LP’s holdings in General Electric were worth $2,254,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Valley Wealth Managers Inc. purchased a new position in General Electric in the 3rd quarter worth about $25,000. Hager Investment Management Services LLC acquired a new position in shares of General Electric in the fourth quarter worth about $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric in the third quarter worth approximately $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric during the fourth quarter valued at approximately $29,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of General Electric in the 3rd quarter valued at approximately $30,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

GE stock opened at $201.91 on Tuesday. The firm has a 50 day moving average of $190.89 and a two-hundred day moving average of $182.42. General Electric has a 12 month low of $125.26 and a 12 month high of $212.19. The company has a market capitalization of $216.71 billion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 2.59 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

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

General Electric Increases Dividend

The business 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 is a positive change 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 0.71%. General Electric’s dividend payout ratio is currently 24.04%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GE shares. Bank of America lifted their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company upped their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Citigroup increased their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, Redburn Atlantic started coverage on shares of General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. 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, General Electric presently has an average rating of “Moderate Buy” and an average price target 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.