Partners in Financial Planning Takes $564,000 Position in General Electric (NYSE:GE)

Partners in Financial Planning acquired a new stake in General Electric (NYSE:GE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,382 shares of the conglomerate’s stock, valued at approximately $564,000.

Several other hedge funds have also recently bought and sold shares of GE. Truvestments Capital LLC lifted its stake in shares of General Electric by 26.2% during the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after buying an additional 49 shares during the period. Ballast Advisors LLC lifted its stake in shares of General Electric by 2.5% during the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock worth $349,000 after purchasing an additional 51 shares during the period. Blue Barn Wealth LLC boosted its holdings in shares of General Electric by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after purchasing an additional 54 shares during the last quarter. Game Plan Financial Advisors LLC grew its position in shares of 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 purchasing an additional 55 shares during the period. Finally, 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 purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

General Electric stock opened at $199.66 on Monday. The firm has a market capitalization of $214.29 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a one year low of $133.99 and a one year high of $214.21. The stock’s 50 day moving average price is $201.52 and its 200 day moving average price is $186.64. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last posted its earnings results 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 net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts expect that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.72%. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. 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 note on Friday, January 24th. Citigroup raised their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. upped their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target 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.