General Electric (NYSE:GE) Shares Bought by Everhart Financial Group Inc.

Everhart Financial Group Inc. boosted its holdings in shares of General Electric (NYSE:GE) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,377 shares of the conglomerate’s stock after buying an additional 738 shares during the quarter. Everhart Financial Group Inc.’s holdings in General Electric were worth $1,564,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Geode Capital Management LLC increased its position in shares of General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after purchasing an additional 156,272 shares during the last quarter. Jennison Associates LLC increased its position 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 valued at $1,314,080,000 after purchasing an additional 106,891 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of General Electric by 6.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock valued at $1,236,428,000 after purchasing an additional 413,388 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of General Electric by 12.5% in the 3rd 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 currently owned by institutional investors and hedge funds.

General Electric Trading Up 0.1 %

Shares of General Electric stock opened at $208.62 on Friday. General Electric has a 1 year low of $117.43 and a 1 year high of $211.42. 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 company has a market capitalization of $223.91 billion, a P/E ratio of 34.83, a PEG ratio of 2.56 and a beta of 1.22. The company’s fifty day moving average is $182.66 and its two-hundred day moving average is $179.25.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. Analysts forecast that General Electric will post 5.39 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 18.70%.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were 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 owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GE. UBS Group increased their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric 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.