Corient Private Wealth LLC Buys 6,199 Shares of General Electric (NYSE:GE)

Corient Private Wealth LLC boosted its stake in shares of General Electric (NYSE:GE) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 234,948 shares of the conglomerate’s stock after acquiring an additional 6,199 shares during the period. Corient Private Wealth LLC’s holdings in General Electric were worth $38,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its holdings in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after buying an additional 1,593,413 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in General Electric in the fourth quarter valued at about $194,208,000. Franklin Resources Inc. grew its position in General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after acquiring an additional 973,135 shares during the last quarter. Finally, State Street Corp raised its stake in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Up 2.6 %

General Electric stock opened at $202.23 on Tuesday. The firm has a market cap of $217.06 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a 52-week low of $133.99 and a 52-week high of $212.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a 50 day moving average price of $196.14 and a two-hundred day moving average price of $184.20.

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

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.71%. 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%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GE shares. 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 note on Friday, January 24th. Redburn Atlantic started coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. increased their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric 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.