Flagship Wealth Advisors LLC Purchases New Position in General Electric (NYSE:GE)

Flagship Wealth Advisors LLC purchased a new stake in General Electric (NYSE:GE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,524 shares of the conglomerate’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp raised 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 during the last quarter. Geode Capital Management LLC raised its holdings in shares of General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after buying an additional 156,272 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of General Electric by 1.4% in the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after buying an additional 106,891 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of General Electric by 1.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock valued at $1,128,571,000 after buying an additional 115,257 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of General Electric by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock valued at $1,122,966,000 after buying an additional 202,233 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on GE. JPMorgan Chase & Co. upped their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Redburn Atlantic assumed coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Trading Up 2.6 %

Shares of GE opened at $197.39 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm’s 50-day moving average is $195.54 and its two-hundred day moving average is $184.00. General Electric has a twelve month low of $131.91 and a twelve month high of $212.19. The firm has a market capitalization of $211.85 billion, a P/E ratio of 32.95, a PEG ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. On average, research analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.73%. General Electric’s dividend payout ratio is currently 24.04%.

About General Electric

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.