Meridian Wealth Management LLC Increases Position in General Electric (NYSE:GE)

Meridian Wealth Management LLC grew its holdings in General Electric (NYSE:GE) by 53.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,921 shares of the conglomerate’s stock after purchasing an additional 5,913 shares during the quarter. Meridian Wealth Management LLC’s holdings in General Electric were worth $2,822,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter worth approximately $25,000. Hager Investment Management Services LLC purchased a new stake in shares of General Electric during the fourth quarter worth $27,000. Peterson Financial Group Inc. acquired a new stake in shares of General Electric in the third quarter valued at $28,000. Sugar Maple Asset Management LLC purchased a new position in General Electric in the fourth quarter valued at $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in General Electric during the 3rd quarter worth $30,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

General Electric stock opened at $201.91 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The business has a 50 day simple moving average of $190.89 and a 200-day simple moving average of $182.42. General Electric has a 12 month low of $125.26 and a 12 month high of $212.19. The stock has a market capitalization of $216.71 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 net margin of 14.31% and a return on equity of 22.19%. Equities analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft lowered their price target 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. 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 price objective on the stock. UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Northcoast Research initiated coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

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.