TCI Wealth Advisors Inc. Increases Position in General Electric (NYSE:GE)

TCI Wealth Advisors Inc. lifted its holdings in General Electric (NYSE:GE) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,953 shares of the conglomerate’s stock after purchasing an additional 425 shares during the period. TCI Wealth Advisors Inc.’s holdings in General Electric were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp boosted its holdings in General Electric by 4.0% in the 3rd quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after buying an additional 410,061 shares during the last quarter. Morgan Stanley boosted its holdings in General Electric by 5.1% in the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after buying an additional 434,736 shares during the last quarter. WCM Investment Management LLC acquired a new stake in General Electric in the 4th quarter worth about $520,488,000. Meritage Group LP boosted its holdings in General Electric by 3.5% in the 3rd quarter. Meritage Group LP now owns 3,294,044 shares of the conglomerate’s stock worth $364,157,000 after buying an additional 110,000 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of General Electric by 1.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,074,080 shares of the conglomerate’s stock worth $339,848,000 after purchasing an additional 32,643 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.9 %

NYSE GE traded up $1.47 on Friday, reaching $164.11. The stock had a trading volume of 3,968,626 shares, compared to its average volume of 7,987,890. The firm has a market capitalization of $179.64 billion, a price-to-earnings ratio of 53.81, a P/E/G ratio of 2.92 and a beta of 1.25. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a 12-month low of $77.93 and a 12-month high of $166.26. The stock has a fifty day moving average price of $161.93 and a two-hundred day moving average price of $138.30.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the prior year, the company earned $0.27 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that General Electric will post 3.96 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a dividend of $0.28 per share. The ex-dividend date was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GE. Argus boosted their target price on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Bank of America boosted their target price on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Barclays lowered their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Vertical Research began coverage on General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. Finally, Royal Bank of Canada lifted their price target on shares of General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Transactions at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.