General Electric (NYSE:GE) Shares Bought by King Wealth Management Group

King Wealth Management Group increased its stake in General Electric (NYSE:GE) by 4.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,120 shares of the conglomerate’s stock after buying an additional 121 shares during the period. King Wealth Management Group’s holdings in General Electric were worth $520,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Valley Wealth Managers Inc. purchased a new position in General Electric during the third quarter worth approximately $25,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric in the 3rd quarter worth $28,000. RPg Family Wealth Advisory LLC acquired a new position in General Electric in the third quarter valued at $30,000. Hager Investment Management Services LLC purchased a new stake in General Electric during the fourth quarter valued at about $27,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in General Electric during the fourth quarter valued at about $29,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GE has been the topic of a number of research reports. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Citigroup lifted their price target 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. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Bank of America raised their target price 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. Finally, JPMorgan Chase & Co. upped their price target 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. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

GE stock opened at $192.28 on Friday. The stock’s 50 day moving average is $195.04 and its two-hundred day moving average is $183.64. General Electric has a 52-week low of $131.91 and a 52-week high of $212.19. The company has a market capitalization of $206.37 billion, a PE ratio of 32.10, a P/E/G ratio of 2.59 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a $0.36 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.75%. General Electric’s payout ratio is 24.04%.

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.