Lifeworks Advisors LLC Raises Stake in General Electric (NYSE:GE)

Lifeworks Advisors LLC increased its holdings in General Electric (NYSE:GE) by 35.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,853 shares of the conglomerate’s stock after buying an additional 485 shares during the quarter. Lifeworks Advisors LLC’s holdings in General Electric were worth $309,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp raised its stake in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Geode Capital Management LLC lifted its holdings in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after acquiring an additional 156,272 shares during the period. Jennison Associates LLC boosted its position in General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after purchasing an additional 106,891 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of General Electric by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock worth $1,128,571,000 after purchasing an additional 115,257 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of General Electric by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock valued at $1,122,966,000 after purchasing an additional 202,233 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on GE shares. Royal Bank of Canada reissued 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 lifted their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Bank of America increased their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

NYSE:GE opened at $194.08 on Friday. General Electric has a twelve month low of $130.38 and a twelve month high of $212.19. The company has a market cap of $208.31 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.59 and a beta of 1.19. 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’s 50-day moving average price is $193.02 and its 200-day moving average price is $183.11.

General Electric (NYSE:GE) last posted its quarterly 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%. On average, sell-side 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 declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.74%. General Electric’s payout ratio is presently 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.