Biltmore Family Office LLC Boosts Stock Position in General Electric (NYSE:GE)

Biltmore Family Office LLC increased its stake in General Electric (NYSE:GE) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,377 shares of the conglomerate’s stock after purchasing an additional 165 shares during the quarter. Biltmore Family Office LLC’s holdings in General Electric were worth $230,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Johnson & White Wealth Management LLC purchased a new stake in shares of General Electric during the fourth quarter valued at $733,000. Chung Wu Investment Group LLC acquired a new stake in General Electric in the 4th quarter valued at about $795,000. State Street Corp raised its stake in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Soltis Investment Advisors LLC lifted its stake in shares of General Electric by 269.8% in 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 during the last quarter. Finally, World Investment Advisors LLC boosted its stake in shares of General Electric by 60.7% in the third 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 during the period. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GE shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Citigroup lifted their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company boosted their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Down 2.0 %

NYSE GE opened at $199.80 on Thursday. The business has a fifty day moving average price of $202.43 and a two-hundred day moving average price of $187.12. The stock has a market capitalization of $214.44 billion, a PE ratio of 33.36, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a fifty-two week low of $138.01 and a fifty-two week high of $214.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

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 return on equity of 22.19% and a net margin of 14.31%. Equities analysts expect that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. 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. 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.