Wealth High Governance Capital Ltda Buys Shares of 62,018 General Electric (NYSE:GE)

Wealth High Governance Capital Ltda purchased a new position in shares of General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 62,018 shares of the conglomerate’s stock, valued at approximately $10,344,000. General Electric makes up approximately 3.7% of Wealth High Governance Capital Ltda’s portfolio, making the stock its 7th biggest position.

A number of other hedge funds have also made changes to their positions in the stock. Atria Investments Inc boosted its holdings in General Electric by 15.7% during the third quarter. Atria Investments Inc now owns 23,407 shares of the conglomerate’s stock valued at $4,414,000 after acquiring an additional 3,179 shares during the period. Axxcess Wealth Management LLC boosted its stake in General Electric by 41.8% during the 3rd quarter. Axxcess Wealth Management LLC now owns 12,443 shares of the conglomerate’s stock valued at $2,347,000 after purchasing an additional 3,671 shares during the period. Legacy Capital Wealth Partners LLC acquired a new stake in General Electric in the 3rd quarter valued at approximately $210,000. Tyler Stone Wealth Management increased its position in General Electric by 116.8% in the 3rd quarter. Tyler Stone Wealth Management now owns 1,316 shares of the conglomerate’s stock worth $248,000 after buying an additional 709 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in shares of General Electric during the third quarter worth approximately $165,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GE shares. Redburn Atlantic began 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company lifted their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Price Performance

NYSE GE opened at $191.89 on Wednesday. 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 stock has a market cap of $205.95 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.59 and a beta of 1.19. The business has a 50 day simple moving average of $193.99 and a 200 day simple moving average of $183.50. General Electric has a 52-week low of $131.14 and a 52-week high of $212.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is currently 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.