Continuum Wealth Advisors LLC Has $403,000 Position in General Electric (NYSE:GE)

Continuum Wealth Advisors LLC lowered its stake in shares of General Electric (NYSE:GE) by 41.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,417 shares of the conglomerate’s stock after selling 1,701 shares during the period. Continuum Wealth Advisors LLC’s holdings in General Electric were worth $403,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in General Electric by 1.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock valued at $1,128,571,000 after acquiring an additional 115,257 shares during the period. Acorn Wealth Advisors LLC grew its stake in General Electric by 3.3% during the fourth quarter. Acorn Wealth Advisors LLC now owns 2,778 shares of the conglomerate’s stock worth $463,000 after buying an additional 89 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its stake in General Electric by 7.0% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 21,256 shares of the conglomerate’s stock worth $3,545,000 after buying an additional 1,390 shares during the last quarter. IFP Advisors Inc grew its stake in shares of General Electric by 12.4% during the fourth quarter. IFP Advisors Inc now owns 20,730 shares of the conglomerate’s stock valued at $3,457,000 after purchasing an additional 2,281 shares during the last quarter. Finally, Cannon Wealth Management Services LLC grew its stake in shares of General Electric by 14.4% during the fourth quarter. Cannon Wealth Management Services LLC now owns 1,256 shares of the conglomerate’s stock valued at $209,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.6 %

General Electric stock opened at $198.68 on Tuesday. The company has a market cap of $213.24 billion, a P/E ratio of 33.17, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. General Electric has a 1-year low of $122.48 and a 1-year high of $212.19. The company has a fifty day simple moving average of $187.23 and a 200 day simple moving average of $181.22. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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%. Research analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Analyst Ratings Changes

GE has been the topic of several research analyst reports. Redburn Atlantic initiated coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. UBS Group increased their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. JPMorgan Chase & Co. increased their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Bank of America increased their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

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.