Pinnacle Financial Partners Inc Has $1.20 Million Position in General Electric (NYSE:GE)

Pinnacle Financial Partners Inc increased its stake in General Electric (NYSE:GE) by 3.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,213 shares of the conglomerate’s stock after purchasing an additional 235 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in General Electric were worth $1,203,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sigma Planning Corp lifted its holdings in shares of General Electric by 3.3% during the fourth quarter. Sigma Planning Corp now owns 18,561 shares of the conglomerate’s stock worth $3,096,000 after buying an additional 596 shares during the last quarter. 44 Wealth Management LLC lifted its holdings in shares of General Electric by 8.0% during the fourth quarter. 44 Wealth Management LLC now owns 5,923 shares of the conglomerate’s stock worth $988,000 after buying an additional 439 shares during the last quarter. Winebrenner Capital Management LLC acquired a new position in shares of General Electric during the fourth quarter worth approximately $227,000. Prentice Wealth Management LLC lifted its holdings in shares of General Electric by 9.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,530 shares of the conglomerate’s stock worth $422,000 after buying an additional 224 shares during the last quarter. Finally, Drum Hill Capital LLC acquired a new position in shares of General Electric during the fourth quarter worth approximately $287,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on GE. Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. UBS Group upped their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Performance

Shares of NYSE:GE opened at $199.90 on Monday. The business’s fifty day moving average price is $186.57 and its two-hundred day moving average price is $180.98. General Electric has a fifty-two week low of $119.88 and a fifty-two week high of $212.19. The stock has a market capitalization of $214.55 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. 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 (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, analysts predict 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 issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend 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 presently 18.70%.

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.