Envestnet Asset Management Inc. Buys 112,849 Shares of General Electric (NYSE:GE)

Envestnet Asset Management Inc. boosted its stake in General Electric (NYSE:GE) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,276,696 shares of the conglomerate’s stock after purchasing an additional 112,849 shares during the quarter. Envestnet Asset Management Inc.’s holdings in General Electric were worth $212,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quarry LP increased its holdings in General Electric by 564.7% during the 3rd quarter. Quarry LP now owns 226 shares of the conglomerate’s stock worth $43,000 after acquiring an additional 192 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of General Electric by 422.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 19,638 shares of the conglomerate’s stock valued at $3,703,000 after purchasing an additional 15,881 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in shares of General Electric by 49.6% in the third quarter. EP Wealth Advisors LLC now owns 28,891 shares of the conglomerate’s stock worth $5,448,000 after purchasing an additional 9,574 shares during the period. Zacks Investment Management purchased a new stake in shares of General Electric in the third quarter worth $502,000. Finally, Orion Portfolio Solutions LLC boosted its stake in General Electric by 6.2% during the third quarter. Orion Portfolio Solutions LLC now owns 47,033 shares of the conglomerate’s stock valued at $8,869,000 after buying an additional 2,745 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GE. Redburn Atlantic assumed coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Citigroup raised their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. 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. Finally, UBS Group lifted their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $214.73.

General Electric Price Performance

Shares of General Electric stock opened at $166.76 on Monday. The stock has a market capitalization of $178.98 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. General Electric has a one year low of $146.78 and a one year high of $214.21. 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 business’s 50 day simple moving average is $201.56 and its two-hundred day simple moving average is $187.10.

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 net margin of 14.31% and a return on equity of 22.19%. Analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. 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 0.86%. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

General Electric 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.