Patten & Patten Inc. TN Has $2.12 Million Holdings in General Electric (NYSE:GE)

Patten & Patten Inc. TN lifted its stake in General Electric (NYSE:GE) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,731 shares of the conglomerate’s stock after acquiring an additional 211 shares during the period. Patten & Patten Inc. TN’s holdings in General Electric were worth $2,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new stake in General Electric in the 3rd quarter worth $25,000. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the fourth quarter valued at about $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric in the third quarter valued at about $28,000. Sugar Maple Asset Management LLC acquired a new stake in General Electric during the fourth quarter worth about $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in General Electric during the fourth quarter valued at about $29,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 2.6 %

General Electric stock opened at $197.39 on Friday. The firm has a market capitalization of $211.85 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 2.59 and a beta of 1.19. The company’s 50 day simple moving average is $195.54 and its 200 day simple moving average is $183.91. 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 fifty-two week low of $131.91 and a fifty-two week high of $212.19.

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 net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts anticipate that General Electric will post 5.4 EPS for the current 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 issued a $0.36 dividend. 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 0.73%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is 24.04%.

Analysts Set New Price Targets

Several analysts have recently weighed in on GE shares. JPMorgan Chase & Co. lifted their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Bank of America lifted their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Redburn Atlantic initiated coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company upped their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two 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, General Electric presently 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.