Parkworth Wealth Management Inc. Makes New $31,000 Investment in General Electric (NYSE:GE)

Parkworth Wealth Management Inc. purchased a new stake in shares of General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 188 shares of the conglomerate’s stock, valued at approximately $31,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new stake in shares of General Electric during the third quarter valued at approximately $25,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric during the third quarter valued at approximately $28,000. RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric during the third quarter valued at approximately $30,000. Hager Investment Management Services LLC purchased a new position in General Electric during the fourth quarter valued at approximately $27,000. Finally, Sugar Maple Asset Management LLC purchased a new position in General Electric during the fourth quarter valued at approximately $29,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Wells Fargo & Company lifted their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Citigroup lifted their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Finally, Bank of America lifted their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Trading Down 0.1 %

NYSE GE opened at $191.89 on Wednesday. The company has a market capitalization of $205.95 billion, a PE ratio of 32.03, a P/E/G ratio of 2.59 and a beta of 1.19. The company has a fifty day moving average of $193.99 and a 200 day moving average of $183.50. General Electric has a 1 year low of $131.14 and a 1 year high of $212.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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%. Research analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given 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 0.75%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 24.04%.

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.