Game Plan Financial Advisors LLC Grows Position in General Electric (NYSE:GE)

Game Plan Financial Advisors LLC boosted its stake in shares of General Electric (NYSE:GE) by 10.5% in the fourth quarter, Holdings Channel reports. The fund owned 578 shares of the conglomerate’s stock after purchasing an additional 55 shares during the period. Game Plan Financial Advisors LLC’s holdings in General Electric were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. WD Rutherford LLC grew its position in shares of General Electric by 7.0% in the fourth quarter. WD Rutherford LLC now owns 19,639 shares of the conglomerate’s stock valued at $3,276,000 after purchasing an additional 1,278 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of General Electric in the fourth quarter worth about $228,000. Allworth Financial LP lifted its stake in shares of General Electric by 14.9% in the fourth quarter. Allworth Financial LP now owns 25,182 shares of the conglomerate’s stock worth $4,200,000 after acquiring an additional 3,273 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of General Electric by 57.0% in the fourth quarter. Principal Securities Inc. now owns 17,093 shares of the conglomerate’s stock worth $2,851,000 after acquiring an additional 6,207 shares in the last quarter. Finally, bLong Financial LLC acquired a new stake in General Electric during the fourth quarter valued at approximately $213,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the topic of a number of research reports. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Melius Research raised their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their target price 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 assumed coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $208.73.

Insider Activity

In other news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.

General Electric Price Performance

NYSE GE opened at $208.62 on Friday. The firm has a market cap of $223.91 billion, a P/E ratio of 34.83, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The stock’s 50-day moving average is $182.66 and its two-hundred day moving average is $179.25. General Electric has a fifty-two week low of $117.43 and a fifty-two week high of $211.42. 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 results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (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, analysts anticipate that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm 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 $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is currently 18.70%.

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.