NewEdge Advisors LLC Buys 2,776 Shares of General Electric (NYSE:GE)

NewEdge Advisors LLC lifted its position in General Electric (NYSE:GE) by 3.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 83,913 shares of the conglomerate’s stock after purchasing an additional 2,776 shares during the quarter. NewEdge Advisors LLC’s holdings in General Electric were worth $13,996,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of General Electric during the fourth quarter worth approximately $2,375,439,000. Invesco Ltd. increased its holdings in General Electric by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the conglomerate’s stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Raymond James Financial Inc. bought a new position in General Electric in the 4th quarter valued at $194,208,000. Franklin Resources Inc. boosted its stake in General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after purchasing an additional 973,135 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of General Electric by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the conglomerate’s stock worth $11,145,570,000 after purchasing an additional 965,012 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Northcoast Research raised shares of General Electric from a “neutral” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Wednesday, April 9th. UBS Group raised their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Citigroup reduced their price objective on General Electric from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Wells Fargo & Company lifted their target price on General Electric from $203.00 to $212.00 and gave the company an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.33.

General Electric Stock Performance

Shares of GE stock opened at $181.88 on Friday. The stock has a market cap of $195.21 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The stock has a 50-day moving average of $196.66 and a 200-day moving average of $186.53. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a one year low of $146.78 and a one year high of $214.21.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 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%. As a group, sell-side analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm 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 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 0.79%. General Electric’s payout ratio is currently 24.04%.

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.