Checchi Capital Advisers LLC grew its stake in General Electric (NYSE:GE – Get Rating) by 101.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,246 shares of the conglomerate’s stock after acquiring an additional 5,160 shares during the quarter. Checchi Capital Advisers LLC’s holdings in General Electric were worth $938,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Missouri Trust & Investment Co acquired a new stake in shares of General Electric in the 4th quarter worth $27,000. Benjamin Edwards Inc. grew its holdings in shares of General Electric by 325.0% during the 4th quarter. Benjamin Edwards Inc. now owns 289 shares of the conglomerate’s stock worth $27,000 after purchasing an additional 221 shares during the period. Covestor Ltd purchased a new position in shares of General Electric during the 4th quarter worth $31,000. Emerson Wealth LLC purchased a new position in shares of General Electric during the 4th quarter worth $32,000. Finally, FSB Premier Wealth Management Inc. purchased a new position in shares of General Electric during the 4th quarter worth $32,000. 67.37% of the stock is owned by institutional investors and hedge funds.
General Electric Stock Performance
GE stock opened at $74.36 on Friday. The business has a 50 day moving average price of $68.90 and a 200 day moving average price of $82.14. General Electric has a fifty-two week low of $59.93 and a fifty-two week high of $116.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.80 and a current ratio of 1.13.
General Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Tuesday, June 28th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, June 27th. General Electric’s dividend payout ratio is currently -7.55%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on GE. Bank of America lowered their price target on General Electric from $132.00 to $120.00 in a report on Wednesday, April 27th. UBS Group lowered their price target on General Electric from $113.00 to $87.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley lowered their price target on General Electric from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Barclays lowered their target price on General Electric from $96.00 to $81.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $90.00 to $88.00 in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.21.
About General Electric
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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