Linscomb Wealth Inc. Boosts Holdings in General Electric (NYSE:GE)

Linscomb Wealth Inc. raised its holdings in shares of General Electric (NYSE:GE) by 782.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,929 shares of the conglomerate’s stock after acquiring an additional 9,690 shares during the period. Linscomb Wealth Inc.’s holdings in General Electric were worth $1,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. increased its stake in shares of General Electric by 2.3% in the 4th quarter. QRG Capital Management Inc. now owns 270,494 shares of the conglomerate’s stock worth $45,116,000 after purchasing an additional 6,005 shares in the last quarter. First Command Advisory Services Inc. grew its holdings in General Electric by 10.4% during the fourth quarter. First Command Advisory Services Inc. now owns 3,348 shares of the conglomerate’s stock valued at $558,000 after purchasing an additional 316 shares during the period. Otter Creek Advisors LLC increased its position in General Electric by 6.1% in the fourth quarter. Otter Creek Advisors LLC now owns 26,234 shares of the conglomerate’s stock worth $4,376,000 after buying an additional 1,500 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of General Electric by 26,959.5% in the fourth quarter. Proficio Capital Partners LLC now owns 554,991 shares of the conglomerate’s stock worth $92,567,000 after buying an additional 552,940 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of General Electric by 30.7% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 5,244 shares of the conglomerate’s stock valued at $875,000 after buying an additional 1,231 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

NYSE:GE opened at $207.22 on Friday. The business’s fifty day moving average price is $190.24 and its 200 day moving average price is $182.00. The firm has a market capitalization of $222.40 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. General Electric has a 12 month low of $124.08 and a 12 month high of $212.19. 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 issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio is presently 24.04%.

Analyst Ratings Changes

Several research firms recently issued reports on GE. JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company increased their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Redburn Atlantic initiated coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Finally, Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average price target 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.