General Electric (NYSE:GE) Stake Increased by Spectrum Financial Alliance Ltd LLC

Spectrum Financial Alliance Ltd LLC raised its position in shares of General Electric (NYSE:GE) by 3.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,725 shares of the conglomerate’s stock after purchasing an additional 3,204 shares during the quarter. General Electric accounts for about 5.9% of Spectrum Financial Alliance Ltd LLC’s investment portfolio, making the stock its 7th biggest holding. Spectrum Financial Alliance Ltd LLC’s holdings in General Electric were worth $16,967,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. 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 valued at $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Geode Capital Management LLC raised its position in General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after buying an additional 156,272 shares during the last quarter. Jennison Associates LLC lifted its stake in General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after acquiring an additional 106,891 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of General Electric by 6.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock valued at $1,236,428,000 after acquiring an additional 413,388 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of General Electric by 12.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock worth $774,458,000 after acquiring an additional 457,038 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of NYSE GE opened at $199.90 on Friday. 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 has a 1 year low of $119.88 and a 1 year high of $212.19. The firm has a fifty day moving average price of $186.57 and a 200-day moving average price of $180.85. The stock has a market cap of $214.55 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last posted its quarterly 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 fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.72%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is presently 18.70%.

Analysts Set New Price Targets

GE has been the topic of a number of research analyst reports. Redburn Atlantic assumed coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Bank of America lifted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. UBS Group increased their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average 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.