Rialto Wealth Management LLC Makes New $146,000 Investment in General Electric (NYSE:GE)

Rialto Wealth Management LLC acquired a new stake in General Electric (NYSE:GE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 878 shares of the conglomerate’s stock, valued at approximately $146,000.

Several other large investors have also made changes to their positions in the business. Johnson & White Wealth Management LLC purchased a new position in General Electric during the fourth quarter valued at approximately $733,000. State Street Corp increased its holdings in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC lifted its stake in shares of General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after purchasing an additional 20,575 shares during the period. World Investment Advisors LLC lifted its stake in shares of General Electric by 60.7% in the 3rd 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. Finally, National Pension Service boosted its holdings in General Electric by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the conglomerate’s stock worth $376,051,000 after buying an additional 37,884 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

Shares of NYSE GE opened at $194.08 on Friday. The firm has a 50-day simple moving average of $193.02 and a 200-day simple moving average of $183.11. 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 stock has a market capitalization of $208.31 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 52 week low of $130.38 and a 52 week high of $212.19.

General Electric (NYSE:GE) last released 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%. On average, equities analysts predict that General Electric will post 5.4 earnings per share for the current fiscal 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 given a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.74%. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

Analysts Set New Price Targets

A number of research firms have weighed in on GE. Redburn Atlantic initiated coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Wells Fargo & Company lifted their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Citigroup increased their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Northcoast Research started coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.