Intellus Advisors LLC Acquires New Stake in General Electric (NYSE:GE)

Intellus Advisors LLC acquired a new stake in shares of General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,412 shares of the conglomerate’s stock, valued at approximately $402,000.

A number of other hedge funds also recently bought and sold shares of the company. Johnson & White Wealth Management LLC bought a new stake in General Electric during the fourth quarter valued at about $733,000. Chung Wu Investment Group LLC bought a new stake in General Electric during the fourth quarter valued at about $795,000. State Street Corp grew its holdings in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. Soltis Investment Advisors LLC grew its holdings in General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after purchasing an additional 20,575 shares during the period. Finally, World Investment Advisors LLC grew its holdings in General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after purchasing an additional 5,162 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE:GE opened at $203.99 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $218.94 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 12 month low of $133.99 and a 12 month high of $212.19. The business’s 50-day moving average is $198.63 and its 200 day moving average is $184.87.

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, 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%. On average, equities research analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. General Electric’s dividend payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GE shares. Bank of America boosted their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. UBS Group upped their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upped their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.