Resonant Capital Advisors LLC acquired a new position in General Electric (NYSE:GE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,424 shares of the conglomerate’s stock, valued at approximately $127,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Novare Capital Management LLC boosted its stake in General Electric by 1.4% during the 4th quarter. Novare Capital Management LLC now owns 56,128 shares of the conglomerate’s stock worth $626,000 after purchasing an additional 783 shares during the period. Roundview Capital LLC raised its holdings in shares of General Electric by 3.8% in the fourth quarter. Roundview Capital LLC now owns 22,166 shares of the conglomerate’s stock valued at $247,000 after buying an additional 810 shares during the last quarter. Greatmark Investment Partners Inc. raised its holdings in shares of General Electric by 1.9% in the fourth quarter. Greatmark Investment Partners Inc. now owns 44,711 shares of the conglomerate’s stock valued at $499,000 after buying an additional 839 shares during the last quarter. BerganKDV Wealth Management LLC boosted its stake in shares of General Electric by 5.9% during the fourth quarter. BerganKDV Wealth Management LLC now owns 15,420 shares of the conglomerate’s stock worth $172,000 after buying an additional 862 shares during the period. Finally, BBVA USA Bancshares Inc. boosted its stake in shares of General Electric by 3.8% during the fourth quarter. BBVA USA Bancshares Inc. now owns 23,986 shares of the conglomerate’s stock worth $268,000 after buying an additional 871 shares during the period. Institutional investors own 62.53% of the company’s stock.
Shares of GE stock traded up $0.56 during trading hours on Thursday, reaching $8.12. 123,128,566 shares of the company’s stock were exchanged, compared to its average volume of 83,409,953. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.70 and a quick ratio of 1.51. The company’s 50 day moving average is $10.38 and its two-hundred day moving average is $10.50. The company has a market cap of $70.98 billion, a P/E ratio of -13.10, a price-to-earnings-growth ratio of 2.35 and a beta of 1.12. General Electric has a 1 year low of $5.90 and a 1 year high of $13.26.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 27th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, March 6th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.49%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
Several brokerages recently issued reports on GE. Cowen restated a “hold” rating and issued a $8.00 price target on shares of General Electric in a research report on Wednesday, January 29th. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating and set a $7.00 target price on the stock in a research note on Friday, March 20th. William Blair reissued a “buy” rating on shares of General Electric in a report on Tuesday, December 3rd. Gordon Haskett raised General Electric from an “underperform” rating to a “hold” rating and boosted their target price for the company from $7.00 to $11.00 in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. upgraded General Electric from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $5.00 to $8.00 in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. General Electric currently has a consensus rating of “Hold” and a consensus target price of $11.35.
General Electric Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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