Naviter Wealth LLC Has $1.88 Million Stake in General Electric (NYSE:GE)

Naviter Wealth LLC grew its stake in General Electric (NYSE:GE) by 899.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,275 shares of the conglomerate’s stock after purchasing an additional 10,147 shares during the period. Naviter Wealth LLC’s holdings in General Electric were worth $1,884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new stake in General Electric in the 3rd quarter worth $25,000. Hager Investment Management Services LLC acquired a new stake in General Electric in the 4th quarter worth $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric in the 3rd quarter worth $28,000. Sugar Maple Asset Management LLC acquired a new stake in General Electric in the 4th quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in General Electric in the 3rd quarter worth $30,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GE has been the topic of several research analyst reports. Citigroup raised their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic started coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Northcoast Research started coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. UBS Group lifted their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company lifted their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Trading Down 1.0 %

Shares of NYSE GE opened at $194.08 on Friday. General Electric has a 1-year low of $130.38 and a 1-year high of $212.19. The company has a market cap of $208.31 billion, a PE ratio of 32.40, a P/E/G ratio of 2.59 and a beta of 1.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average of $193.02 and a two-hundred day moving average of $183.02.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. As a group, equities analysts expect that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.74%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s 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.