RFG Bristol Wealth Advisors LLC Makes New $224,000 Investment in General Electric (NYSE:GE)

RFG Bristol Wealth Advisors LLC purchased a new position in shares of General Electric (NYSE:GE) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,343 shares of the conglomerate’s stock, valued at approximately $224,000.

A number of other hedge funds have also recently made changes to their positions in GE. Vanguard Group Inc. lifted its stake in General Electric by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock worth $14,980,297,000 after purchasing an additional 410,172 shares during the last quarter. State Street Corp lifted its stake in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Geode Capital Management LLC boosted its holdings in General Electric by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate’s stock valued at $3,846,587,000 after acquiring an additional 529,457 shares during the period. Norges Bank bought a new position in General Electric during the 4th quarter worth approximately $2,375,439,000. Finally, Jennison Associates LLC increased its stake in General Electric by 1.4% in 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 period. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on GE shares. JPMorgan Chase & Co. raised their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic began coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Finally, Citigroup increased their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

Shares of GE opened at $199.80 on Thursday. 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 has a market cap of $214.44 billion, a P/E ratio of 33.36, a P/E/G ratio of 2.59 and a beta of 1.19. The business’s 50 day moving average price is $202.43 and its 200-day moving average price is $187.12. General Electric has a 52 week low of $138.01 and a 52 week high of $214.21.

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

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.72%. General Electric’s payout ratio is 24.04%.

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.