Lansing Street Advisors Increases Holdings in General Electric (NYSE:GE)

Lansing Street Advisors boosted its stake in General Electric (NYSE:GE) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,441 shares of the conglomerate’s stock after purchasing an additional 485 shares during the period. Lansing Street Advisors’ holdings in General Electric were worth $407,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter worth approximately $27,000. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the 4th quarter worth approximately $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric in the 3rd quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of General Electric in the 4th quarter worth approximately $29,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GE. Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic began coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. UBS Group lifted their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company lifted their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Down 4.2 %

GE stock opened at $199.90 on Friday. General Electric has a 1-year low of $119.88 and a 1-year high of $212.19. The business has a fifty day moving average price of $186.57 and a 200-day moving average price of $180.85. 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 stock has a market capitalization of $214.55 billion, a P/E ratio of 33.37, a P/E/G ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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%. Equities analysts forecast 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. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 18.70%.

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.