General Electric (NYSE:GE) Shares Acquired by Avalon Trust Co

Avalon Trust Co increased its stake in General Electric (NYSE:GE) by 604.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 458 shares of the conglomerate’s stock after buying an additional 393 shares during the period. Avalon Trust Co’s holdings in General Electric were worth $76,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GE. Oppenheimer Asset Management Inc. increased its stake in shares of General Electric by 14.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,013 shares of the conglomerate’s stock worth $757,000 after buying an additional 513 shares during the last quarter. Zions Bancorporation N.A. increased its stake in shares of General Electric by 23.7% in the third quarter. Zions Bancorporation N.A. now owns 2,891 shares of the conglomerate’s stock worth $545,000 after buying an additional 553 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of General Electric by 7.5% in the third quarter. CIBC Asset Management Inc now owns 158,286 shares of the conglomerate’s stock worth $29,850,000 after buying an additional 11,057 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the third quarter worth $25,000. Finally, KCM Investment Advisors LLC increased its stake in shares of General Electric by 1.8% in the third quarter. KCM Investment Advisors LLC now owns 4,261 shares of the conglomerate’s stock worth $804,000 after buying an additional 75 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

GE stock opened at $197.39 on Friday. The company has a market capitalization of $211.85 billion, a P/E ratio of 32.95, a PEG ratio of 2.59 and a beta of 1.19. The company has a 50-day simple moving average of $195.54 and a 200 day simple moving average of $183.91. General Electric has a fifty-two week low of $131.91 and a fifty-two week high of $212.19. 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 posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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%. Sell-side analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.73%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is presently 24.04%.

Analyst Ratings Changes

GE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Redburn Atlantic initiated coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Citigroup boosted 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. Finally, Wells Fargo & Company boosted their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average 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.