Sagespring Wealth Partners LLC Acquires New Holdings in General Electric (NYSE:GE)

Sagespring Wealth Partners LLC bought a new stake in General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,688 shares of the conglomerate’s stock, valued at approximately $1,616,000.

Several other hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC raised its stake in General Electric by 26.2% during the 4th quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock worth $39,000 after buying an additional 49 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of General Electric by 17.6% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate’s stock valued at $56,000 after purchasing an additional 50 shares in the last quarter. Ballast Advisors LLC grew its position in shares of General Electric by 2.5% in the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after purchasing an additional 51 shares during the period. Blue Barn Wealth LLC increased its stake in General Electric by 3.8% during the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after purchasing an additional 54 shares in the last quarter. Finally, Game Plan Financial Advisors LLC increased its stake in General Electric by 10.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after purchasing an additional 55 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GE. Bank of America upped their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Citigroup reduced their price objective on General Electric from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday. Redburn Atlantic started coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $212.73.

General Electric Price Performance

NYSE:GE opened at $181.60 on Monday. 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 has a 12-month low of $146.78 and a 12-month high of $214.21. The stock’s 50 day moving average price is $198.36 and its two-hundred day moving average price is $186.61. The firm has a market capitalization of $194.91 billion, a price-to-earnings ratio of 30.32, a P/E/G ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE) last released its quarterly earnings data 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%. On average, 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. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is currently 24.04%.

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.