Providence First Trust Co Acquires Shares of 10,831 General Electric (NYSE:GE)

Providence First Trust Co bought a new position in shares of General Electric (NYSE:GE) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 10,831 shares of the conglomerate’s stock, valued at approximately $1,807,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fisher Asset Management LLC lifted its stake in shares of General Electric by 24.3% during the 4th quarter. Fisher Asset Management LLC now owns 13,780 shares of the conglomerate’s stock worth $2,299,000 after buying an additional 2,693 shares during the last quarter. WR Wealth Planners LLC raised its holdings in General Electric by 30.6% in the 4th quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 56 shares during the period. Cobblestone Capital Advisors LLC NY lifted its position in General Electric by 0.9% during the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 7,036 shares of the conglomerate’s stock worth $1,174,000 after acquiring an additional 63 shares during the last quarter. Maple Capital Management Inc. lifted its position in General Electric by 2,420.1% during the fourth quarter. Maple Capital Management Inc. now owns 50,705 shares of the conglomerate’s stock worth $8,457,000 after acquiring an additional 48,693 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of General Electric during the fourth quarter worth approximately $2,366,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GE. Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Citigroup boosted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. UBS Group raised their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

General Electric stock opened at $207.22 on Friday. 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 has a 52 week low of $124.08 and a 52 week high of $212.19. The stock has a market capitalization of $222.40 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. The stock has a fifty day moving average of $190.24 and a 200-day moving average of $182.00.

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%. On average, sell-side analysts expect that General Electric will post 5.4 earnings per share 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 paid a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio is presently 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.