Cullen Frost Bankers Inc. Increases Stock Position in General Electric (NYSE:GE)

Cullen Frost Bankers Inc. grew its stake in shares of General Electric (NYSE:GE) by 45.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,979 shares of the conglomerate’s stock after acquiring an additional 27,596 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in General Electric were worth $14,841,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GE. Game Plan Financial Advisors LLC increased 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 increased its position in General Electric by 4.0% in the fourth 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 last quarter. WR Wealth Planners LLC increased its position in General Electric by 30.6% in the fourth quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 56 shares during the last quarter. Saxon Interests Inc. increased its position in General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after acquiring an additional 57 shares during the last quarter. Finally, Old North State Wealth Management LLC increased 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 acquiring an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of a number of analyst reports. Northcoast Research initiated coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Citigroup boosted 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. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Up 1.9 %

NYSE:GE opened at $202.61 on Thursday. General Electric has a 1-year low of $126.78 and a 1-year high of $212.19. The company has a 50-day moving average of $192.06 and a 200 day moving average of $182.77. The firm has a market cap of $217.46 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last released its quarterly earnings data 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%. As a group, research 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. Investors of record on Monday, March 10th will be paid a $0.36 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. General Electric’s dividend payout ratio is 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.