Evoke Wealth LLC Purchases 351 Shares of General Electric (NYSE:GE)

Evoke Wealth LLC increased its position in shares of General Electric (NYSE:GE) by 11.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,334 shares of the conglomerate’s stock after purchasing an additional 351 shares during the period. Evoke Wealth LLC’s holdings in General Electric were worth $557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GE. State Street Corp increased its holdings in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Geode Capital Management LLC increased its holdings in General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after acquiring an additional 156,272 shares during the last quarter. Jennison Associates LLC increased its holdings in General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after acquiring an additional 106,891 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in General Electric by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock valued at $1,128,571,000 after acquiring an additional 115,257 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in General Electric by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock valued at $1,122,966,000 after acquiring an additional 202,233 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GE. Wells Fargo & Company lifted their price target on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. 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. JPMorgan Chase & Co. lifted their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Bank of America lifted 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. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Price Performance

General Electric stock opened at $200.74 on Wednesday. The stock has a market cap of $215.45 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. 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 has a 1 year low of $133.99 and a 1 year high of $212.19. The firm has a 50-day moving average of $196.70 and a two-hundred day moving average of $184.38.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, research analysts forecast 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 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s payout ratio is 24.04%.

General Electric 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.