General Electric (NYSE:GE) Shares Acquired by Meridian Wealth Management LLC

Meridian Wealth Management LLC increased its position in shares of General Electric (NYSE:GE) by 53.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,921 shares of the conglomerate’s stock after purchasing an additional 5,913 shares during the quarter. Meridian Wealth Management LLC’s holdings in General Electric were worth $2,822,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC raised its position in shares of General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after acquiring an additional 146 shares during the period. Johnson & White Wealth Management LLC purchased a new position in shares of General Electric in the 4th quarter valued at about $733,000. State Street Corp raised its holdings in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Soltis Investment Advisors LLC boosted its position in General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after purchasing an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC grew its holdings in General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after purchasing an additional 5,162 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

General Electric stock opened at $201.91 on Tuesday. The stock has a market cap of $216.71 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $190.89 and a 200-day simple moving average of $182.42. General Electric has a 1-year low of $125.26 and a 1-year high of $212.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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%. On average, analysts expect that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.71%. General Electric’s payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GE. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Redburn Atlantic assumed coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Citigroup increased their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company lifted their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.