Greatmark Investment Partners Inc. Boosts Stock Holdings in General Electric (NYSE:GE)

Greatmark Investment Partners Inc. grew its position in shares of General Electric (NYSE:GE) by 24.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,942 shares of the conglomerate’s stock after purchasing an additional 575 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in General Electric were worth $491,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Johnson & White Wealth Management LLC purchased a new position in shares of General Electric during the 4th quarter valued at approximately $733,000. Chung Wu Investment Group LLC purchased a new position in shares of General Electric during the 4th quarter valued at approximately $795,000. State Street Corp increased its holdings 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 valued at $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC increased its holdings in shares of General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after purchasing an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC increased its holdings in shares of General Electric by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after purchasing an additional 5,162 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GE shares. JPMorgan Chase & Co. lifted their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. UBS Group boosted their price target 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. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Redburn Atlantic began coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Trading Up 2.6 %

Shares of GE stock opened at $197.39 on Friday. The company’s 50-day moving average price is $195.54 and its 200-day moving average price is $183.82. 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 stock has a market cap of $211.85 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a twelve month low of $131.91 and a twelve month high of $212.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company 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 dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.73%. General Electric’s payout ratio is presently 24.04%.

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.