Allegiance Financial Group Advisory Services LLC Purchases 1,240 Shares of General Electric (NYSE:GE)

Allegiance Financial Group Advisory Services LLC lifted its position in General Electric (NYSE:GE) by 66.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,096 shares of the conglomerate’s stock after acquiring an additional 1,240 shares during the quarter. Allegiance Financial Group Advisory Services LLC’s holdings in General Electric were worth $516,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its holdings in General Electric by 0.7% in the third quarter. Assenagon Asset Management S.A. now owns 30,671 shares of the conglomerate’s stock worth $5,784,000 after purchasing an additional 209 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in General Electric by 22.8% in the third quarter. Pallas Capital Advisors LLC now owns 7,682 shares of the conglomerate’s stock worth $1,381,000 after purchasing an additional 1,425 shares in the last quarter. Traynor Capital Management Inc. raised its holdings in General Electric by 18.3% in the third quarter. Traynor Capital Management Inc. now owns 1,903 shares of the conglomerate’s stock worth $359,000 after purchasing an additional 295 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in General Electric in the third quarter worth about $743,000. Finally, Gateway Wealth Partners LLC bought a new position in General Electric in the third quarter worth about $208,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

Shares of NYSE GE opened at $201.56 on Thursday. The business’s 50 day moving average price is $188.73 and its 200 day moving average price is $181.58. The firm has a market cap of $216.34 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.59 and a beta of 1.21. General Electric has a 52 week low of $122.48 and a 52 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 released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. On average, sell-side analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.71%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GE. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Citigroup boosted their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Redburn Atlantic started coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company boosted their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.