BlueStem Wealth Partners LLC Purchases New Position in General Electric (NYSE:GE)

BlueStem Wealth Partners LLC purchased a new stake in shares of General Electric (NYSE:GE) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,715 shares of the conglomerate’s stock, valued at approximately $286,000.

Several other institutional investors also recently bought and sold shares of the stock. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric in the third quarter valued at approximately $25,000. Peterson Financial Group Inc. purchased a new stake in shares of General Electric in the third quarter valued at approximately $28,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of General Electric in the third quarter valued at approximately $30,000. Hager Investment Management Services LLC purchased a new stake in shares of General Electric in the fourth quarter valued at approximately $27,000. Finally, Costello Asset Management INC increased its position in shares of General Electric by 92.0% in the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock valued at $31,000 after buying an additional 80 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of General Electric stock opened at $207.22 on Friday. General Electric has a 52 week low of $124.08 and a 52 week high of $212.19. The business’s fifty day simple moving average is $190.24 and its 200-day simple moving average is $182.10. The firm has a market cap of $222.40 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last announced 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%. Equities analysts forecast that General Electric will post 5.4 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 $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 24.04%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GE. Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. UBS Group boosted 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. Bank of America boosted 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. Wells Fargo & Company boosted 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. Finally, 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. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Company 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.