Graney & King LLC Invests $645,000 in General Electric (NYSE:GE)

Graney & King LLC acquired a new position in General Electric (NYSE:GE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,864 shares of the conglomerate’s stock, valued at approximately $645,000.

Several other large investors have also recently bought and sold shares of GE. Janus Henderson Group PLC increased its holdings in General Electric by 505.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after buying an additional 1,593,413 shares during the period. Raymond James Financial Inc. acquired a new position in shares of General Electric in the 4th quarter worth approximately $194,208,000. Franklin Resources Inc. raised its stake in shares of General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after acquiring an additional 973,135 shares during the last quarter. State Street Corp increased its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in General Electric by 15,750.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 768,588 shares of the conglomerate’s stock worth $138,368,000 after acquiring an additional 763,739 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

NYSE GE opened at $212.18 on Wednesday. General Electric has a 52-week low of $133.99 and a 52-week high of $212.76. The stock has a market cap of $227.73 billion, a PE ratio of 35.42, a P/E/G ratio of 2.59 and a beta of 1.19. The firm has a 50-day moving average of $200.12 and a 200-day moving average of $185.83. 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 (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 return on equity of 22.19% and a net margin of 14.31%. On average, sell-side analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.68%. General Electric’s payout ratio is 24.04%.

Wall Street Analyst Weigh In

GE has been the subject of several recent research reports. UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company lifted their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.