Ibex Wealth Advisors acquired a new stake in General Electric (NYSE: GE – Get Rating) in the fourth quarter, according to the latest 13F file filed with the Securities and Exchange Commission (SEC). The Fund acquired 22,127 shares of the conglomerate’s stock valued at approximately $1,854,000.
Several other institutional investors have also increased or decreased their stakes in the company. Macquarie Group Ltd. increased his 3.2% stake in General Electric during the third quarter. Macquarie Group Ltd. now owns 48,555 shares of the conglomerate worth $3,006,000 after purchasing an additional 1,493 of his shares during the previous quarter. Foundations Investment Advisors LLC increased his stake in General Electric stock by 3.3% in the fourth quarter. Foundations Investment Advisors LLC owns 7,262 of his shares in the conglomerate worth $609,000 after purchasing an additional 230 shares in the previous quarter. GHP Investment Advisors increased its stake in General Electric stock by 25.8% in the third quarter. GHP Investment Advisors Inc. now owns 1,159 shares of the conglomerate worth $72,000 after purchasing an additional 238 shares last quarter. Ballentine Partners LLC increased its holding in General Electric stock by 16.5% in the third quarter. Ballentine Partners LLC now owns 12,231 shares of the conglomerate worth $757,000 after purchasing an additional 1,730 shares in the previous quarter. Finally, Aspiriant LLC increased its stake in General Electric by 4.0% in the third quarter. Aspiriant LLC now owns 4,596 shares of the conglomerate worth $284,000 after purchasing an additional 175 shares last quarter. Currently 70.12% of the shares are owned by institutional investors and hedge funds.
Analyst sets new price target
Recently, several brokerage firms have considered GE. Jefferies Financial Group upgraded General Electric’s stock from a ‘hold’ rating to a ‘buy’ rating, setting a $120.00 price target in its research notes on Thursday, April 20. Morgan Stanley raised its price target for General Electric stock from his $90.00 to his $110.00, giving it an “overweight” rating in its research notes on Friday, March 31. JPMorgan Chase & Co. increased its price target for General Electric stock to $100.00 from $88.00 in a research note on Friday, March 10. Bank of America raised its price target on General Electric stock to $96.00 from $92.00 and gave it a Buy rating in its research notes on Monday, March 6. Finally, Goldman Sachs Group Inc. raised its price target on General Electric stock from $96.00 to $110.00, giving the stock a ‘buy’ rating in its research notes on Friday, April 14. Two investment analysts rated the stock with a hold rating and 13 issued buy ratings on the company’s stock. According to MarketBeat, the stock currently has an average rating of “moderate buy” and a consensus target price of $101.53.
General Electric Trading 0.6% increase
GE shares opened at $100.15 on Tuesday. The company has a debt to equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 1.16. His 12-month low for General Electric is $46.55 and his 12-month high is $100.77. The company has a 50-day simple moving average of $90.69 and a 200-day simple moving average of $83.65.
General Electric (NYSE:GE – Get Rating) last announced its quarterly earnings data on Tuesday, Jan. 24. The conglomerate reported his earnings per share of $1.24 for the quarter, $0.13 above consensus expectations of $1.11. General Electric had a net profit margin of 0.29% and a return on equity of 8.47%. The company’s revenue for the quarter was $21.79 billion, compared with analyst estimates of $22.11 billion. During the same quarter last year, the business earned him $0.92 per share. Quarterly revenues for this business increased by 7.3% compared to the same period last year. As a group, research analysts expect General Electric to post his 1.99 EPS in the current financial year.
General Electric Announces Dividend
The company recently announced a quarterly dividend payable on Tuesday, April 25th. Dividends of $0.08 per share will be issued to shareholders of record on Tuesday, March 7. The ex-dividend date for this dividend is March 6 (Tuesday). This represents an annualized dividend of $0.32 and a dividend yield of 0.32%. General Electric’s payout ratio is currently -1,066.67%.
General Electric Profile
(get rating)
General Electric Co is engaged in providing commercial and military aircraft engines and systems, wind and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear and other power generation equipment. It operates in the Aviation, Healthcare, Renewable Energy and Power segments.
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