FFT Wealth Management LLC Invests $338,000 in General Electric (NYSE:GE)

FFT Wealth Management LLC purchased a new position in General Electric (NYSE:GE) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,029 shares of the conglomerate’s stock, valued at approximately $338,000.

Other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC increased its holdings in General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after purchasing an additional 1,593,413 shares in the last quarter. Franklin Resources Inc. raised its position in shares of General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after purchasing an additional 973,135 shares during the last quarter. State Street Corp lifted its stake 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 buying an additional 898,296 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in General Electric by 12.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock valued at $774,458,000 after buying an additional 457,038 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

Shares of General Electric stock opened at $199.20 on Wednesday. The business’s fifty day moving average price is $187.90 and its 200 day moving average price is $181.44. General Electric has a twelve month low of $122.48 and a twelve month high of $212.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $213.80 billion, a P/E ratio of 33.25, a PEG ratio of 2.59 and a beta of 1.21.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate 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, research 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. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.72%. General Electric’s payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GE. Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their price target 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. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average 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.