Providence First Trust Co Takes Position in General Electric (NYSE:GE)

Providence First Trust Co acquired a new position in shares of General Electric (NYSE:GE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,831 shares of the conglomerate’s stock, valued at approximately $1,807,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Diversify Advisory Services LLC increased its stake in shares of General Electric by 5.5% in the 3rd quarter. Diversify Advisory Services LLC now owns 1,638 shares of the conglomerate’s stock valued at $289,000 after acquiring an additional 85 shares during the last quarter. SteelPeak Wealth LLC grew its holdings in General Electric by 52.2% during the third quarter. SteelPeak Wealth LLC now owns 3,030 shares of the conglomerate’s stock valued at $572,000 after purchasing an additional 1,039 shares during the period. Financial Advocates Investment Management increased its stake in General Electric by 8.3% in the third quarter. Financial Advocates Investment Management now owns 3,720 shares of the conglomerate’s stock valued at $702,000 after purchasing an additional 286 shares in the last quarter. US Bancorp DE raised its holdings in General Electric by 0.5% in the third quarter. US Bancorp DE now owns 319,713 shares of the conglomerate’s stock worth $60,292,000 after purchasing an additional 1,676 shares during the period. Finally, Reston Wealth Management LLC bought a new position in shares of General Electric during the third quarter worth $99,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 2.9 %

Shares of NYSE:GE opened at $207.22 on Friday. The company’s 50-day moving average price is $190.24 and its two-hundred day moving average price is $182.00. General Electric has a one year low of $124.08 and a one year high of $212.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a market capitalization of $222.40 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21.

General Electric (NYSE:GE) last released its 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%. On average, equities analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 annualized dividend and a dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Redburn Atlantic started coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. UBS Group lifted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company lifted their price target on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average 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.