Cobblestone Capital Advisors LLC NY Acquires 63 Shares of General Electric (NYSE:GE)

Cobblestone Capital Advisors LLC NY raised its holdings in shares of General Electric (NYSE:GE) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,036 shares of the conglomerate’s stock after acquiring an additional 63 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in General Electric were worth $1,174,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Jennison Associates LLC lifted its holdings in General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after buying an additional 1,593,413 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after buying an additional 973,135 shares in the last quarter. State Street Corp lifted its holdings in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of General Electric by 26,959.5% in the fourth quarter. Proficio Capital Partners LLC now owns 554,991 shares of the conglomerate’s stock worth $92,567,000 after purchasing an additional 552,940 shares during the period. 74.77% of the stock is owned by institutional investors.

General Electric Price Performance

General Electric stock opened at $207.22 on Friday. The stock’s 50 day moving average is $190.24 and its 200 day moving average is $182.00. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market cap of $222.40 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.59 and a beta of 1.21. General Electric has a one year low of $124.08 and a one year high of $212.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates 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, research analysts expect that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid 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 0.69%. General Electric’s payout ratio is 24.04%.

Analysts Set New Price Targets

A number of brokerages recently commented on GE. Wells Fargo & Company raised their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. UBS Group lifted their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Citigroup lifted their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.