LPL Financial LLC Boosts Stock Position in General Electric (NYSE:GE)

LPL Financial LLC increased its holdings in shares of General Electric (NYSE:GE) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 918,344 shares of the conglomerate’s stock after buying an additional 76,121 shares during the period. LPL Financial LLC owned about 0.09% of General Electric worth $153,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hager Investment Management Services LLC purchased a new position in shares of General Electric in the fourth quarter valued at approximately $27,000. Sugar Maple Asset Management LLC acquired a new position in General Electric in the 4th quarter valued at $29,000. CBIZ Investment Advisory Services LLC purchased a new position in General Electric in the 4th quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new stake in General Electric during the 3rd quarter worth $30,000. Finally, Picton Mahoney Asset Management grew its holdings in shares of General Electric by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 3.1 %

Shares of NYSE GE opened at $210.56 on Tuesday. 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 is $199.41 and its two-hundred day moving average is $185.47. General Electric has a 52-week low of $133.99 and a 52-week high of $212.19. The firm has a market cap of $225.99 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that General Electric will post 5.4 EPS for the current 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 issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is 24.04%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GE shares. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Wells Fargo & Company upped their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Bank of America upped their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Redburn Atlantic started coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.