Summit Place Financial Advisors LLC Has $3.04 Million Stock Position in General Electric (NYSE:GE)

Summit Place Financial Advisors LLC reduced its position in General Electric (NYSE:GE) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 18,203 shares of the conglomerate’s stock after selling 323 shares during the period. General Electric accounts for approximately 1.7% of Summit Place Financial Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Summit Place Financial Advisors LLC’s holdings in General Electric were worth $3,036,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GE. Toth Financial Advisory Corp acquired a new stake in shares of General Electric during the third quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in General Electric during the third quarter worth about $27,000. Hager Investment Management Services LLC bought a new position in General Electric during the fourth quarter worth about $27,000. Finally, Peterson Financial Group Inc. bought a new position in General Electric during the third quarter worth about $28,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Up 0.8 %

Shares of GE stock opened at $209.94 on Wednesday. The stock’s fifty day moving average price is $184.18 and its two-hundred day moving average price is $180.02. The company has a market cap of $225.33 billion, a PE ratio of 35.05, a P/E/G ratio of 2.59 and a beta of 1.22. General Electric has a fifty-two week low of $118.13 and a fifty-two week high of $212.19. 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 earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating 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%. Equities analysts predict that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is 18.70%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GE. JPMorgan Chase & Co. boosted their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report 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. Wells Fargo & Company raised their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.