Partners Wealth Management LLC Invests $213,000 in General Electric (NYSE:GE)

Partners Wealth Management LLC bought a new position in General Electric (NYSE:GE) during the fourth quarter, Holdings Channel reports. The firm bought 1,278 shares of the conglomerate’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Valley Wealth Managers Inc. purchased a new stake in General Electric during the third quarter valued at $25,000. Hager Investment Management Services LLC purchased a new position in General Electric during the fourth quarter worth $27,000. Peterson Financial Group Inc. bought a new position in General Electric during the 3rd quarter valued at about $28,000. Sugar Maple Asset Management LLC purchased a new stake in General Electric in the 4th quarter worth about $29,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in General Electric in the third quarter worth about $30,000. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Citigroup boosted their price target on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. raised their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. 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, Wells Fargo & Company boosted their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Down 4.2 %

GE stock opened at $199.90 on Monday. General Electric has a 12 month low of $119.88 and a 12 month 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. The company has a market capitalization of $214.55 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. The firm’s fifty day simple moving average is $186.57 and its 200-day simple moving average is $180.98.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced 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 positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. General Electric’s dividend payout ratio (DPR) is 18.70%.

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.