Canopy Partners LLC Purchases 466 Shares of General Electric (NYSE:GE)

Canopy Partners LLC raised its position in General Electric (NYSE:GE) by 24.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,384 shares of the conglomerate’s stock after acquiring an additional 466 shares during the quarter. Canopy Partners LLC’s holdings in General Electric were worth $398,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of General Electric in the 4th quarter worth approximately $2,375,439,000. Invesco Ltd. increased its holdings in General Electric by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the conglomerate’s stock valued at $1,591,970,000 after buying an additional 1,204,910 shares during the last quarter. Raymond James Financial Inc. bought a new position in General Electric in the fourth quarter worth approximately $194,208,000. Franklin Resources Inc. boosted its stake in shares of General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after acquiring an additional 973,135 shares during the last quarter. Finally, FMR LLC grew its position in shares of General Electric by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the conglomerate’s stock valued at $11,145,570,000 after acquiring an additional 965,012 shares during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GE. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. raised their target price 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, Northcoast Research started coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.73.

General Electric Stock Down 11.1 %

GE opened at $166.76 on Monday. The company has a market capitalization of $178.98 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The firm has a 50-day simple moving average of $201.56 and a two-hundred day simple moving average of $187.10. 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 52 week low of $146.78 and a 52 week high of $214.21.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts forecast that General Electric will post 5.4 earnings per share 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 given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.86%. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is currently 24.04%.

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.