Edgestream Partners L.P. Acquires New Position in General Electric (NYSE:GE)

Edgestream Partners L.P. bought a new position in General Electric (NYSE:GE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,318 shares of the conglomerate’s stock, valued at approximately $1,387,000.

Several other large investors also recently added to or reduced their stakes in the business. Blue Barn Wealth LLC grew its position in General Electric by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after acquiring an additional 54 shares in the last quarter. Game Plan Financial Advisors LLC grew its position in General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after acquiring an additional 55 shares in the last quarter. Red Door Wealth Management LLC grew its position in General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after acquiring an additional 56 shares in the last quarter. WR Wealth Planners LLC grew its position in General Electric by 30.6% in the fourth quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 56 shares in the last quarter. Finally, Saxon Interests Inc. grew its position in General Electric by 4.2% in the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after acquiring an additional 57 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. UBS Group boosted their price objective 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. Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Price Performance

NYSE:GE opened at $191.61 on Tuesday. The stock has a market cap of $205.65 billion, a P/E ratio of 31.99, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a one year low of $130.38 and a one year high of $212.19. The company has a fifty day moving average price of $193.49 and a 200 day moving average price of $183.35. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate 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. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.75%. General Electric’s dividend 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.