Cornerstone Advisors LLC Has $8.72 Million Stock Holdings in General Electric (NYSE:GE)

Cornerstone Advisors LLC boosted its position in shares of General Electric (NYSE:GE) by 3.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 52,300 shares of the conglomerate’s stock after purchasing an additional 1,800 shares during the period. Cornerstone Advisors LLC’s holdings in General Electric were worth $8,723,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC lifted its position in shares of General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after buying an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after purchasing an additional 1,593,413 shares during the period. Raymond James Financial Inc. bought a new position in shares of General Electric in the fourth quarter worth about $194,208,000. Franklin Resources Inc. increased its stake in shares of 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 during the period. Finally, State Street Corp increased its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of General Electric stock opened at $191.61 on Tuesday. The firm has a fifty day moving average of $193.49 and a two-hundred day moving average of $183.35. The stock has a market capitalization of $205.65 billion, a price-to-earnings ratio of 31.99, a PEG 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. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last released 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, equities research 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. Stockholders 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 boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.75%. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GE shares. Redburn Atlantic started coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Citigroup boosted their price target on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. boosted their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.