General Electric (NYSE:GE) Shares Acquired by Empower Advisory Group LLC

Empower Advisory Group LLC boosted its stake in shares of General Electric (NYSE:GE) by 7.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,119 shares of the conglomerate’s stock after purchasing an additional 229 shares during the quarter. Empower Advisory Group LLC’s holdings in General Electric were worth $520,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the 3rd quarter worth $27,000. Peterson Financial Group Inc. acquired a new position in General Electric during the 3rd quarter worth $28,000. RPg Family Wealth Advisory LLC acquired a new position in General Electric during the 3rd quarter worth $30,000. Finally, Hager Investment Management Services LLC acquired a new position in General Electric during the 4th quarter worth $27,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GE shares. Redburn Atlantic began coverage on General Electric in a research report on Tuesday. They set a “buy” rating and a $250.00 price target for the company. Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Bank of America upped their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

Shares of NYSE GE opened at $210.28 on Thursday. The business’s 50-day moving average price is $185.01 and its two-hundred day moving average price is $180.23. 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 $118.13 and a one year high of $212.19. The company has a market capitalization of $225.69 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22.

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

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.68%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 18.70%.

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.