Cassaday & Co Wealth Management LLC Has $768,000 Stock Position in General Electric (NYSE:GE)

Cassaday & Co Wealth Management LLC lessened its stake in General Electric (NYSE:GE) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,606 shares of the conglomerate’s stock after selling 124 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in General Electric were worth $768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Grove Street Fiduciary LLC acquired a new position in General Electric in the fourth quarter valued at approximately $311,000. Cordatus Wealth Management LLC boosted its position in shares of General Electric by 66.3% in the 4th quarter. Cordatus Wealth Management LLC now owns 16,546 shares of the conglomerate’s stock worth $2,759,000 after purchasing an additional 6,599 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of General Electric during the fourth quarter worth $167,000. RPS Advisory Solutions LLC acquired a new position in General Electric in the fourth quarter valued at about $290,000. Finally, Boston Financial Mangement LLC boosted its holdings in General Electric by 12.5% during the fourth quarter. Boston Financial Mangement LLC now owns 2,412 shares of the conglomerate’s stock worth $402,000 after buying an additional 268 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group upped their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report 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, the company has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Performance

GE opened at $208.93 on Friday. General Electric has a 52-week low of $118.13 and a 52-week high of $212.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The business’s 50-day simple moving average is $185.89 and its 200 day simple moving average is $180.43. The firm has a market capitalization of $224.24 billion, a PE ratio of 34.88, a PEG ratio of 2.62 and a beta of 1.22.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 18.70%.

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.