FFT Wealth Management LLC Takes Position in General Electric (NYSE:GE)

FFT Wealth Management LLC bought a new stake in shares of General Electric (NYSE:GE) during the 4th quarter, HoldingsChannel reports. The firm bought 2,029 shares of the conglomerate’s stock, valued at approximately $338,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric during the third quarter valued at approximately $25,000. Hager Investment Management Services LLC acquired a new stake in General Electric during the 4th quarter valued at $27,000. Peterson Financial Group Inc. purchased a new stake in General Electric during the 3rd quarter worth $28,000. Sugar Maple Asset Management LLC acquired a new position in General Electric in the 4th quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in General Electric in the 3rd quarter worth $30,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered 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. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Redburn Atlantic began coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Wells Fargo & Company raised their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Bank of America upped their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Price Performance

GE opened at $199.20 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $187.90 and its 200 day moving average price is $181.44. General Electric has a fifty-two week low of $122.48 and a fifty-two week high of $212.19. The firm has a market cap of $213.80 billion, a price-to-earnings ratio of 33.25, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that General Electric will post 5.4 earnings per share for the current 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 $0.36 dividend. 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 0.72%. General Electric’s dividend payout ratio (DPR) is currently 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.