Welch & Forbes LLC Acquires 930 Shares of General Electric (NYSE:GE)

Welch & Forbes LLC lifted its position in General Electric (NYSE:GE) by 2.0% during the 4th quarter, HoldingsChannel reports. The firm owned 46,516 shares of the conglomerate’s stock after acquiring an additional 930 shares during the quarter. Welch & Forbes LLC’s holdings in General Electric were worth $7,758,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the third quarter worth about $25,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric in the third quarter worth about $28,000. RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric in the third quarter worth about $30,000. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the fourth quarter worth about $27,000. Finally, Costello Asset Management INC increased its holdings in shares of General Electric by 92.0% in the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 80 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Down 3.2 %

Shares of NYSE:GE opened at $196.06 on Friday. General Electric has a 1 year low of $129.26 and a 1 year high of $212.19. The business has a 50 day simple moving average of $192.54 and a two-hundred day simple moving average of $182.86. The firm has a market capitalization of $210.43 billion, a PE ratio of 32.73, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. 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 (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. 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 dividend yield of 0.73%. General Electric’s payout ratio is presently 24.04%.

Wall Street Analyst Weigh In

GE has been the topic of several research reports. JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Redburn Atlantic initiated coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Citigroup lifted 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. UBS Group lifted their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target 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.