Uniting Wealth Partners LLC Acquires New Shares in General Electric (NYSE:GE)

Uniting Wealth Partners LLC purchased a new position in shares of General Electric (NYSE:GE) during the fourth quarter, HoldingsChannel reports. The fund purchased 1,521 shares of the conglomerate’s stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Arete Wealth Advisors LLC increased its holdings in General Electric by 25.6% during the 4th quarter. Arete Wealth Advisors LLC now owns 7,163 shares of the conglomerate’s stock worth $1,195,000 after purchasing an additional 1,460 shares in the last quarter. World Investment Advisors lifted its stake in General Electric by 7.6% in the fourth quarter. World Investment Advisors now owns 14,698 shares of the conglomerate’s stock valued at $2,451,000 after acquiring an additional 1,036 shares during the last quarter. Nicolet Advisory Services LLC grew its holdings in General Electric by 9.3% during the fourth quarter. Nicolet Advisory Services LLC now owns 4,821 shares of the conglomerate’s stock worth $828,000 after purchasing an additional 412 shares during the period. Biltmore Family Office LLC raised its stake in General Electric by 13.6% in the 4th quarter. Biltmore Family Office LLC now owns 1,377 shares of the conglomerate’s stock valued at $230,000 after acquiring an additional 165 shares during the period. Finally, OneAscent Financial Services LLC lifted its stake in shares of General Electric by 3.2% during the 4th quarter. OneAscent Financial Services LLC now owns 3,416 shares of the conglomerate’s stock worth $570,000 after buying an additional 105 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Down 2.0 %

NYSE GE opened at $199.80 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock’s 50 day moving average is $202.43 and its 200 day moving average is $187.12. General Electric has a 12 month low of $138.01 and a 12 month high of $214.21. The stock has a market cap of $214.44 billion, a PE ratio of 33.36, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 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%. Research analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm 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 dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. 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 currently 24.04%.

Analysts Set New Price Targets

Several equities analysts recently commented on GE shares. Bank of America upped their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their price objective 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. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Redburn Atlantic started coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Finally, UBS Group raised their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.