Congress Wealth Management LLC DE Grows Stock Holdings in General Electric (NYSE:GE)

Congress Wealth Management LLC DE increased its stake in General Electric (NYSE:GE) by 7.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,826 shares of the conglomerate’s stock after buying an additional 591 shares during the period. Congress Wealth Management LLC DE’s holdings in General Electric were worth $1,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Truvestments Capital LLC boosted its position in shares of General Electric by 26.2% during the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after buying an additional 49 shares during the last quarter. Ballast Advisors LLC lifted its stake in General Electric by 2.5% during the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after acquiring an additional 51 shares during the period. Blue Barn Wealth LLC boosted its holdings in shares of General Electric by 3.8% during the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after acquiring an additional 54 shares during the last quarter. Game Plan Financial Advisors LLC grew its stake in shares of General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after acquiring an additional 55 shares during the period. Finally, Red Door Wealth Management LLC raised its holdings in shares of General Electric by 4.0% during the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. upped their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Redburn Atlantic started coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two investment 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 stock currently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Performance

Shares of NYSE GE opened at $206.11 on Friday. The stock has a market cap of $221.21 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 1 year low of $133.99 and a 1 year high of $214.21. The firm has a fifty day moving average price of $201.18 and a 200-day moving average price of $186.12. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

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 return on equity of 22.19% and a net margin of 14.31%. Equities analysts anticipate 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. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.70%. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is presently 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.