Mission Wealth Management LP Purchases 781 Shares of General Electric (NYSE:GE)

Mission Wealth Management LP boosted its position in shares of General Electric (NYSE:GE) by 6.1% in the fourth quarter, Holdings Channel reports. The fund owned 13,512 shares of the conglomerate’s stock after acquiring an additional 781 shares during the period. Mission Wealth Management LP’s holdings in General Electric were worth $2,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GE. Jennison Associates LLC lifted its position in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC increased its position in General Electric by 505.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after buying an additional 1,593,413 shares during the period. Franklin Resources Inc. lifted its holdings in shares of General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after buying an additional 973,135 shares during the last quarter. State Street Corp lifted its holdings in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in shares of General Electric by 26,959.5% in the fourth quarter. Proficio Capital Partners LLC now owns 554,991 shares of the conglomerate’s stock valued at $92,567,000 after acquiring an additional 552,940 shares during the period. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Down 2.4 %

Shares of NYSE:GE opened at $201.91 on Tuesday. The company has a market capitalization of $216.71 billion, a PE ratio of 33.71, a P/E/G ratio of 2.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company’s fifty day moving average is $190.89 and its 200-day moving average is $182.42. General Electric has a 52 week low of $125.26 and a 52 week high of $212.19.

General Electric (NYSE:GE) last released 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%. Equities research analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared 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. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 24.04%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Redburn Atlantic started coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. UBS Group boosted their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and fifteen have issued 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.

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.