Essential Planning LLC. Acquires New Position in General Electric (NYSE:GE)

Essential Planning LLC. bought a new stake in General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 28,340 shares of the conglomerate’s stock, valued at approximately $5,061,000.

Several other large investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. bought a new stake in shares of General Electric during the third quarter worth $25,000. Peterson Financial Group Inc. bought a new position in General Electric in the third quarter valued at $28,000. RPg Family Wealth Advisory LLC acquired a new stake in General Electric in the third quarter valued at $30,000. Hager Investment Management Services LLC acquired a new stake in General Electric in the fourth quarter valued at $27,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in General Electric in the fourth quarter valued at $29,000. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GE. Citigroup raised their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Redburn Atlantic began coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. UBS Group lifted their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price 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. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Performance

NYSE GE opened at $191.89 on Wednesday. General Electric has a 1 year low of $131.14 and a 1 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 firm has a market cap of $205.95 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.59 and a beta of 1.19. The company has a fifty day moving average price of $193.99 and a 200-day moving average price of $183.50.

General Electric (NYSE:GE) last posted 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 net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.75%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is presently 24.04%.

General Electric Company 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.