General Electric (NYSE:GE) Shares Acquired by Seven Mile Advisory

Seven Mile Advisory lifted its stake in General Electric (NYSE:GE) by 33.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,465 shares of the conglomerate’s stock after purchasing an additional 366 shares during the quarter. Seven Mile Advisory’s holdings in General Electric were worth $244,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. New Age Alpha Advisors LLC lifted its holdings in shares of General Electric by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after buying an additional 84 shares during the period. Hager Investment Management Services LLC acquired a new position in General Electric in the 4th quarter worth about $27,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Electric during the 4th quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC purchased a new position in General Electric during the fourth quarter valued at $29,000. Finally, Picton Mahoney Asset Management raised its position in shares of General Electric by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock valued at $30,000 after buying an additional 68 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports 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. Redburn Atlantic assumed coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Citigroup raised their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. UBS Group boosted their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Trading Down 3.0 %

Shares of General Electric stock opened at $199.66 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $214.29 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 52-week low of $133.99 and a 52-week high of $214.21. The company’s 50-day simple moving average is $201.52 and its 200-day simple moving average is $186.64.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate 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 issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is currently 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.