General Electric (NYSE:GE) Shares Acquired by Allegiance Financial Group Advisory Services LLC

Allegiance Financial Group Advisory Services LLC lifted its holdings in shares of General Electric (NYSE:GE) by 66.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,096 shares of the conglomerate’s stock after buying an additional 1,240 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in General Electric were worth $516,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GE. Jennison Associates LLC raised its stake in General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC raised its stake 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 valued at $359,882,000 after purchasing an additional 1,593,413 shares during the last quarter. Franklin Resources Inc. raised its stake in General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after purchasing an additional 973,135 shares during the last quarter. State Street Corp raised its stake in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in General Electric by 12.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock valued at $774,458,000 after purchasing an additional 457,038 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GE has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Redburn Atlantic assumed coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, UBS Group raised their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Performance

NYSE GE opened at $201.56 on Thursday. The stock has a market cap of $216.34 billion, a PE ratio of 33.65, a P/E/G ratio of 2.59 and a beta of 1.21. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $122.48 and a twelve month high of $212.19. The stock has a fifty day simple moving average of $188.73 and a 200-day simple moving average of $181.58.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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 analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 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.