Lake Street Advisors Group LLC Purchases 168 Shares of General Electric (NYSE:GE)

Lake Street Advisors Group LLC raised its position in General Electric (NYSE:GE) by 2.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,367 shares of the conglomerate’s stock after acquiring an additional 168 shares during the period. Lake Street Advisors Group LLC’s holdings in General Electric were worth $1,064,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Game Plan Financial Advisors LLC boosted its position in General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after purchasing an additional 55 shares during the last quarter. Red Door Wealth Management LLC raised its stake in shares of General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 56 shares during the period. Saxon Interests Inc. boosted its holdings in shares of General Electric by 4.2% in the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after buying an additional 57 shares during the last quarter. Old North State Wealth Management LLC grew its position in General Electric by 3.0% during the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after buying an additional 58 shares during the period. Finally, Northeast Investment Management increased its holdings in General Electric by 2.2% during the fourth quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock worth $452,000 after buying an additional 59 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 1.2 %

Shares of GE opened at $201.56 on Thursday. General Electric has a twelve month low of $122.48 and a twelve month high of $212.19. The stock has a market cap of $216.34 billion, a PE ratio of 33.65, a P/E/G ratio of 2.59 and a beta of 1.21. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The business’s 50-day moving average price is $188.73 and its 200-day moving average price is $181.58.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. On average, equities analysts forecast 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. Investors of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 24.04%.

Analyst Ratings Changes

A number of research analysts have weighed in on GE shares. Redburn Atlantic initiated coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. 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. Wells Fargo & Company boosted their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.