Okabena Investment Services Inc. Acquires 609 Shares of General Electric (NYSE:GE)

Okabena Investment Services Inc. lifted its holdings in shares of General Electric (NYSE:GE) by 5.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,093 shares of the conglomerate’s stock after acquiring an additional 609 shares during the quarter. Okabena Investment Services Inc.’s holdings in General Electric were worth $1,850,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in General Electric during the 3rd quarter worth approximately $618,000. Glenmede Trust Co. NA raised its stake in General Electric by 1.1% during the third quarter. Glenmede Trust Co. NA now owns 93,751 shares of the conglomerate’s stock worth $17,680,000 after buying an additional 1,016 shares during the last quarter. Vinva Investment Management Ltd lifted its holdings in General Electric by 218.2% in the third quarter. Vinva Investment Management Ltd now owns 20,366 shares of the conglomerate’s stock valued at $3,775,000 after buying an additional 13,965 shares during the period. CWS Financial Advisors LLC acquired a new position in General Electric in the third quarter valued at $237,000. Finally, Circle Wealth Management LLC acquired a new stake in General Electric during the 3rd quarter worth about $226,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE:GE opened at $199.66 on Friday. General Electric has a 1 year low of $133.99 and a 1 year high of $214.21. The business has a fifty day simple moving average of $201.52 and a two-hundred day simple moving average of $186.36. The company has a market capitalization of $214.29 billion, a P/E ratio of 33.33, a P/E/G ratio of 2.59 and a beta of 1.19. 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 released its quarterly earnings data 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 net margin of 14.31% and a return on equity of 22.19%. On average, analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date of this dividend 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 0.72%. General Electric’s payout ratio is 24.04%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GE shares. Deutsche Bank Aktiengesellschaft dropped their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company increased their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Citigroup raised their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Two equities research 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, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

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.