General Electric (NYSE:GE) Position Boosted by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc increased its holdings in General Electric (NYSE:GE) by 2.0% during the fourth quarter, Holdings Channel reports. The firm owned 12,167 shares of the conglomerate’s stock after purchasing an additional 234 shares during the period. Marks Group Wealth Management Inc’s holdings in General Electric were worth $2,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its holdings 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 valued at $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after acquiring an additional 156,272 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after acquiring an additional 106,891 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of General Electric by 6.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after purchasing an additional 413,388 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of General Electric by 12.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock valued at $774,458,000 after purchasing an additional 457,038 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GE shares. 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 note on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company lifted their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Price Performance

GE opened at $209.03 on Wednesday. The stock has a fifty day moving average price of $180.18 and a 200 day moving average price of $178.28. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 1 year low of $110.95 and a 1 year high of $209.15. The stock has a market cap of $224.35 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 2.56 and a beta of 1.22.

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 the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts forecast that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.54%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio is 18.70%.

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.