General Electric (NYSE:GE) Shares Bought by OneAscent Financial Services LLC

OneAscent Financial Services LLC grew its holdings in shares of General Electric (NYSE:GE) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,416 shares of the conglomerate’s stock after purchasing an additional 105 shares during the period. OneAscent Financial Services LLC’s holdings in General Electric were worth $570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of General Electric in the 4th quarter worth approximately $2,375,439,000. Janus Henderson Group PLC boosted its stake in General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after purchasing an additional 1,593,413 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of General Electric during the 4th quarter valued at $194,208,000. Franklin Resources Inc. raised its stake in shares of General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after buying an additional 973,135 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GE shares. Wells Fargo & Company boosted their price target 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. JPMorgan Chase & Co. boosted their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft cut their target price 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. Bank of America lifted their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Redburn Atlantic began coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Down 2.0 %

Shares of General Electric stock opened at $199.80 on Thursday. The firm has a market cap of $214.44 billion, a price-to-earnings ratio of 33.36, a P/E/G ratio of 2.59 and a beta of 1.19. The stock has a 50-day simple moving average of $202.43 and a 200-day simple moving average of $187.12. General Electric has a 52-week low of $138.01 and a 52-week high of $214.21. 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 posted its earnings results 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%. On average, equities research 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 announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is 24.04%.

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.