Exencial Wealth Advisors LLC Decreases Stake in General Electric (NYSE:GE)

Exencial Wealth Advisors LLC lowered its stake in General Electric (NYSE:GE) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,593 shares of the conglomerate’s stock after selling 294 shares during the period. Exencial Wealth Advisors LLC’s holdings in General Electric were worth $433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Game Plan Financial Advisors LLC raised its holdings in shares of General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after buying an additional 55 shares during the last quarter. Red Door Wealth Management LLC raised its holdings in shares of General Electric by 4.0% during the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 56 shares during the last quarter. WR Wealth Planners LLC raised its holdings in shares of General Electric by 30.6% during the fourth quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 56 shares during the last quarter. Saxon Interests Inc. raised its holdings in shares of General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after purchasing an additional 57 shares during the last quarter. Finally, Old North State Wealth Management LLC raised its holdings in shares of General Electric by 3.0% during the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock worth $331,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Bank of America raised their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. UBS Group raised their target price 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. Redburn Atlantic initiated coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Finally, Wells Fargo & Company raised their price target on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Up 1.9 %

Shares of NYSE GE opened at $202.61 on Thursday. The company’s 50-day simple moving average is $192.06 and its 200-day simple moving average is $182.77. General Electric has a 52-week low of $126.78 and a 52-week high of $212.19. The firm has a market cap of $217.46 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

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

General Electric Increases Dividend

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

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.