Wealth High Governance Capital Ltda Purchases Shares of 62,018 General Electric (NYSE:GE)

Wealth High Governance Capital Ltda acquired a new position in shares of General Electric (NYSE:GE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 62,018 shares of the conglomerate’s stock, valued at approximately $10,344,000. General Electric comprises 3.7% of Wealth High Governance Capital Ltda’s holdings, making the stock its 7th largest position.

Other hedge funds also recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the 3rd quarter valued at about $25,000. Peterson Financial Group Inc. acquired a new position in General Electric during the third quarter worth approximately $28,000. RPg Family Wealth Advisory LLC bought a new stake in General Electric in the third quarter valued at approximately $30,000. Hager Investment Management Services LLC acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $27,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of General Electric during the 4th quarter worth approximately $29,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE:GE opened at $191.89 on Wednesday. The stock’s 50-day moving average is $193.99 and its 200-day moving average is $183.50. The stock has a market cap of $205.95 billion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 1-year low of $131.14 and a 1-year 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.

General Electric (NYSE:GE) last released its quarterly earnings results 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%. Equities research analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 0.75%. General Electric’s dividend payout ratio is presently 24.04%.

Analysts Set New Price Targets

GE has been the subject of a number of research analyst reports. 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 report on Friday, January 24th. UBS Group upped their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Finally, Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

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.