Sequoia Financial Advisors LLC Buys 14,331 Shares of General Electric (NYSE:GE)

Sequoia Financial Advisors LLC grew its holdings in General Electric (NYSE:GE) by 27.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,678 shares of the conglomerate’s stock after acquiring an additional 14,331 shares during the period. Sequoia Financial Advisors LLC’s holdings in General Electric were worth $11,121,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GE. Jennison Associates LLC boosted its stake in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after purchasing an additional 1,593,413 shares during the period. Raymond James Financial Inc. bought a new stake in shares of General Electric during the 4th quarter valued at $194,208,000. Franklin Resources Inc. raised its position in shares of General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after purchasing an additional 973,135 shares during the period. Finally, State Street Corp raised its position in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GE. Redburn Atlantic began coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Citigroup raised their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Performance

Shares of NYSE GE opened at $195.21 on Thursday. General Electric has a 52-week low of $131.91 and a 52-week high of $212.19. The company has a market cap of $209.52 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.59 and a beta of 1.19. The firm’s fifty day moving average is $194.56 and its two-hundred day moving average is $183.58. 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 issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, analysts anticipate that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This is a boost 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 0.74%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

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.