Congress Wealth Management LLC DE Acquires 591 Shares of General Electric (NYSE:GE)

Congress Wealth Management LLC DE boosted its holdings in shares of General Electric (NYSE:GE) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,826 shares of the conglomerate’s stock after acquiring an additional 591 shares during the quarter. Congress Wealth Management LLC DE’s holdings in General Electric were worth $1,472,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GE. Truvestments Capital LLC grew its holdings in shares of General Electric by 26.2% during the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 49 shares in the last quarter. Ballast Advisors LLC lifted its position in General Electric by 2.5% during the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after purchasing an additional 51 shares during the last quarter. Blue Barn Wealth LLC grew its stake in General Electric by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after buying an additional 54 shares in the last quarter. Game Plan Financial Advisors LLC raised its position in shares of General Electric by 10.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock valued at $96,000 after buying an additional 55 shares in the last quarter. Finally, Red Door Wealth Management LLC lifted its holdings in shares of General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after acquiring an additional 56 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Trading Down 0.6 %

GE opened at $206.11 on Friday. General Electric has a one year low of $133.99 and a one year high of $214.21. 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 business has a 50 day simple moving average of $201.18 and a two-hundred day simple moving average of $186.12. The firm has a market capitalization of $221.21 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts predict that General Electric will post 5.4 EPS for the current 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 paid a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is presently 24.04%.

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. UBS Group increased their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Citigroup lifted 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. Finally, Redburn Atlantic started coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric 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.