Wealthspire Advisors LLC Raises Stock Position in General Electric (NYSE:GE)

Wealthspire Advisors LLC grew its stake in shares of General Electric (NYSE:GE) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 15,740 shares of the conglomerate’s stock after purchasing an additional 131 shares during the quarter. Wealthspire Advisors LLC’s holdings in General Electric were worth $2,009,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Prime Capital Investment Advisors LLC increased its stake in General Electric by 29.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after purchasing an additional 6,419 shares in the last quarter. Fifth Third Bancorp increased its position in shares of General Electric by 12.5% in the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock valued at $33,335,000 after acquiring an additional 28,985 shares during the period. O Shaughnessy Asset Management LLC raised its stake in General Electric by 10.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock worth $12,087,000 after acquiring an additional 10,722 shares during the last quarter. Grandfield & Dodd LLC lifted its position in General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock worth $34,432,000 after acquiring an additional 22,998 shares during the period. Finally, Qsemble Capital Management LP purchased a new stake in General Electric during the 3rd quarter valued at about $1,846,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Down 0.8 %

Shares of GE traded down $1.36 during midday trading on Thursday, hitting $167.50. 4,902,984 shares of the stock were exchanged, compared to its average volume of 7,805,056. General Electric has a 52-week low of $78.17 and a 52-week high of $170.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The stock has a fifty day simple moving average of $162.76 and a 200 day simple moving average of $139.38. The firm has a market cap of $183.35 billion, a P/E ratio of 54.92, a P/E/G ratio of 2.92 and a beta of 1.25.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the business posted $0.27 EPS. On average, research analysts anticipate that General Electric will post 3.96 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date was Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GE. Vertical Research initiated coverage on General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective for the company. Barclays dropped their price objective on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Wells Fargo & Company upped their price target on shares of General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, The Goldman Sachs Group increased their price target on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $172.29.

Insiders Place Their Bets

In other news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

General Electric 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.