Summit Place Financial Advisors LLC Has $3.04 Million Position in General Electric (NYSE:GE)

Summit Place Financial Advisors LLC cut its stake in shares of General Electric (NYSE:GE) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,203 shares of the conglomerate’s stock after selling 323 shares during the quarter. General Electric makes up approximately 1.7% of Summit Place Financial Advisors LLC’s portfolio, making the stock its 22nd biggest position. Summit Place Financial Advisors LLC’s holdings in General Electric were worth $3,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Game Plan Financial Advisors LLC increased its stake in General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock valued at $96,000 after acquiring an additional 55 shares during the last quarter. Red Door Wealth Management LLC increased its stake in General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after acquiring an additional 56 shares during the last quarter. Saxon Interests Inc. boosted its position in General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after buying an additional 57 shares during the period. Old North State Wealth Management LLC boosted its position in General Electric by 3.0% during the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after buying an additional 58 shares during the period. Finally, Northeast Investment Management boosted its position in General Electric by 2.2% during the fourth quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock valued at $452,000 after buying an additional 59 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GE shares. Wells Fargo & Company increased their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. UBS Group raised their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Finally, Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Trading Up 0.8 %

Shares of GE stock opened at $209.94 on Wednesday. General Electric has a 12-month low of $118.13 and a 12-month high of $212.19. 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 firm’s 50 day moving average is $184.18 and its 200 day moving average is $180.02. The stock has a market capitalization of $225.33 billion, a P/E ratio of 35.05, a P/E/G ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Research analysts expect that General Electric will post 5.39 earnings per share for the current 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 paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.28. 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.