Westover Capital Advisors LLC Acquires 66 Shares of General Electric (NYSE:GE)

Westover Capital Advisors LLC boosted its holdings in General Electric (NYSE:GE) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 1,376 shares of the conglomerate’s stock after purchasing an additional 66 shares during the quarter. Westover Capital Advisors LLC’s holdings in General Electric were worth $230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Geode Capital Management LLC increased its holdings in General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after buying an additional 156,272 shares during the last quarter. Jennison Associates LLC lifted its stake in General Electric by 1.4% in the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after acquiring an additional 106,891 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in General Electric by 1.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock valued at $1,128,571,000 after acquiring an additional 115,257 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of General Electric by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock valued at $1,122,966,000 after acquiring an additional 202,233 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

NYSE GE opened at $198.82 on Wednesday. The firm has a 50-day moving average price of $191.44 and a two-hundred day moving average price of $182.63. General Electric has a 12-month low of $125.26 and a 12-month high of $212.19. The company has a market capitalization of $213.39 billion, a P/E ratio of 33.19, a P/E/G 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 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%. Analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Citigroup raised their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company increased their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Three 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 company currently has an average rating of “Moderate Buy” and an average target price of $211.31.

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.