IFP Advisors Inc Boosts Stock Position in General Electric (NYSE:GE)

IFP Advisors Inc raised its position in General Electric (NYSE:GE) by 12.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,730 shares of the conglomerate’s stock after buying an additional 2,281 shares during the period. IFP Advisors Inc’s holdings in General Electric were worth $3,457,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. grew its stake in shares of General Electric by 69.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,357 shares of the conglomerate’s stock valued at $822,000 after buying an additional 1,790 shares during the period. Assenagon Asset Management S.A. boosted its holdings in General Electric by 0.7% in the third quarter. Assenagon Asset Management S.A. now owns 30,671 shares of the conglomerate’s stock valued at $5,784,000 after acquiring an additional 209 shares during the last quarter. Arkadios Wealth Advisors grew its position in General Electric by 2.4% during the third quarter. Arkadios Wealth Advisors now owns 6,023 shares of the conglomerate’s stock valued at $1,136,000 after acquiring an additional 140 shares during the period. NorthCrest Asset Manangement LLC increased its stake in General Electric by 65.9% during the third quarter. NorthCrest Asset Manangement LLC now owns 2,089 shares of the conglomerate’s stock worth $394,000 after acquiring an additional 830 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its holdings in shares of General Electric by 9.3% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,275 shares of the conglomerate’s stock worth $240,000 after purchasing an additional 108 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Down 0.6 %

NYSE:GE opened at $198.68 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market capitalization of $213.24 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. General Electric has a one year low of $122.48 and a one year high of $212.19. The stock has a 50-day simple moving average of $187.23 and a 200 day simple moving average of $181.22.

General Electric (NYSE:GE) last issued 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%. Sell-side analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 24.04%.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. Bank of America boosted their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Citigroup boosted their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Redburn Atlantic initiated coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, Wells Fargo & Company increased their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric 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.