Moors & Cabot Inc. Has $2.62 Million Stake in General Electric (NYSE:GE)

Moors & Cabot Inc. lifted its position in General Electric (NYSE:GE) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,731 shares of the conglomerate’s stock after purchasing an additional 97 shares during the quarter. Moors & Cabot Inc.’s holdings in General Electric were worth $2,624,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Prosperity Wealth Management Inc. acquired a new position in General Electric during the fourth quarter worth $590,000. Natural Investments LLC acquired a new position in General Electric during the fourth quarter worth $249,000. Fairway Wealth LLC raised its stake in General Electric by 218.8% during the fourth quarter. Fairway Wealth LLC now owns 322 shares of the conglomerate’s stock worth $54,000 after acquiring an additional 221 shares in the last quarter. Founders Financial Alliance LLC raised its stake in General Electric by 2.8% during the fourth quarter. Founders Financial Alliance LLC now owns 3,570 shares of the conglomerate’s stock worth $595,000 after acquiring an additional 97 shares in the last quarter. Finally, Cornerstone Advisors LLC raised its stake in General Electric by 3.6% during the fourth quarter. Cornerstone Advisors LLC now owns 52,300 shares of the conglomerate’s stock worth $8,723,000 after acquiring an additional 1,800 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

General Electric stock opened at $195.21 on Thursday. The business’s 50-day simple moving average is $194.56 and its 200 day simple moving average is $183.58. The stock has a market cap of $209.52 billion, a price-to-earnings ratio of 32.59, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 12-month low of $131.91 and a 12-month high of $212.19. 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 issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, research analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. 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%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 24.04%.

Analysts Set New Price Targets

Several research analysts have issued reports on GE shares. Bank of America increased their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Northcoast Research began coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Wells Fargo & Company increased their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.