King Wealth Management Group Grows Stock Position in General Electric (NYSE:GE)

King Wealth Management Group boosted its position in General Electric (NYSE:GE) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,120 shares of the conglomerate’s stock after buying an additional 121 shares during the period. King Wealth Management Group’s holdings in General Electric were worth $520,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new position in shares of General Electric during the third quarter worth about $25,000. Peterson Financial Group Inc. purchased a new stake in General Electric in the 3rd quarter valued at approximately $28,000. RPg Family Wealth Advisory LLC acquired a new position in General Electric during the 3rd quarter worth approximately $30,000. Hager Investment Management Services LLC purchased a new position in shares of General Electric during the 4th quarter worth approximately $27,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of General Electric during the 4th quarter worth approximately $29,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on GE. Redburn Atlantic assumed coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Citigroup upped their price target 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. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company upped their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, UBS Group increased their target price 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. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Down 1.4 %

Shares of NYSE:GE opened at $192.28 on Friday. 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 company has a market capitalization of $206.37 billion, a P/E ratio of 32.10, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 52-week low of $131.91 and a 52-week high of $212.19. The stock’s fifty day simple moving average is $195.04 and its 200-day simple moving average is $183.64.

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, beating 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, equities research analysts forecast that General Electric will post 5.4 earnings per share 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. Shareholders 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 yield of 0.75%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s 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.