Glenview Trust co Purchases 214 Shares of General Electric (NYSE:GE)

Glenview Trust co grew its position in shares of General Electric (NYSE:GE) by 1.9% in the 4th quarter, HoldingsChannel reports. The firm owned 11,750 shares of the conglomerate’s stock after acquiring an additional 214 shares during the quarter. Glenview Trust co’s holdings in General Electric were worth $1,960,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GE. Patten & Patten Inc. TN raised its holdings in shares of General Electric by 1.7% during the 4th quarter. Patten & Patten Inc. TN now owns 12,731 shares of the conglomerate’s stock valued at $2,123,000 after buying an additional 211 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of General Electric by 2.7% during the fourth quarter. Corient Private Wealth LLC now owns 234,948 shares of the conglomerate’s stock worth $38,499,000 after acquiring an additional 6,199 shares in the last quarter. Ascent Capital Management LLC bought a new stake in shares of General Electric in the 4th quarter worth approximately $365,000. Avalon Trust Co boosted its stake in shares of General Electric by 604.6% in the 4th quarter. Avalon Trust Co now owns 458 shares of the conglomerate’s stock valued at $76,000 after purchasing an additional 393 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC bought a new position in shares of General Electric during the 4th quarter valued at $29,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Redburn Atlantic assumed coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Wells Fargo & Company increased their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Up 2.6 %

NYSE:GE opened at $197.39 on Monday. The firm has a 50-day simple moving average of $195.54 and a two-hundred day simple moving average of $184.00. The firm has a market cap of $211.85 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a fifty-two week low of $131.91 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 announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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 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. The ex-dividend date is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.73%. General Electric’s dividend payout ratio (DPR) is 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.