Proficio Capital Partners LLC Raises Position in General Electric (NYSE:GE)

Proficio Capital Partners LLC grew its holdings in shares of General Electric (NYSE:GE) by 26,959.5% during the fourth quarter, HoldingsChannel reports. The firm owned 554,991 shares of the conglomerate’s stock after purchasing an additional 552,940 shares during the quarter. Proficio Capital Partners LLC’s holdings in General Electric were worth $92,567,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. State Street Corp lifted its stake in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Geode Capital Management LLC lifted its stake in shares of General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the period. Jennison Associates LLC lifted its stake in shares of General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after purchasing an additional 106,891 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of General Electric by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock worth $1,128,571,000 after purchasing an additional 115,257 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 worth $1,236,428,000 after purchasing an additional 413,388 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.1 %

Shares of NYSE GE opened at $201.40 on Friday. General Electric has a 12-month low of $123.06 and a 12-month high of $212.19. The company has a market cap of $216.17 billion, a P/E ratio of 33.62, 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. The stock has a fifty day moving average price of $189.46 and a 200 day moving average price of $181.72.

General Electric (NYSE:GE) last announced its quarterly 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 return on equity of 22.19% and a net margin of 14.31%. Research analysts anticipate that General Electric will post 5.4 EPS for the current fiscal 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 paid a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.71%. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. UBS Group increased their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Citigroup increased their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their target price 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, Wells Fargo & Company increased 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. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $211.31.

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.