Proficio Capital Partners LLC Buys 1,276 Shares of General Electric (NYSE:GE)

Proficio Capital Partners LLC boosted its stake in General Electric (NYSE:GE) by 62.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,327 shares of the conglomerate’s stock after purchasing an additional 1,276 shares during the quarter. Proficio Capital Partners LLC’s holdings in General Electric were worth $555,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GE. Hager Investment Management Services LLC bought a new position in General Electric during the fourth quarter worth about $27,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric during the fourth quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of General Electric during the third quarter worth about $30,000. Truvestments Capital LLC bought a new position in shares of General Electric during the 3rd quarter valued at about $35,000. Finally, Atlantic Edge Private Wealth Management LLC grew its position in shares of General Electric by 38.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 226 shares of the conglomerate’s stock valued at $38,000 after purchasing an additional 63 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GE. Northcoast Research started coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. UBS Group raised their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Wells Fargo & Company upped their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Performance

NYSE GE opened at $203.99 on Monday. The firm’s fifty day moving average price is $198.63 and its two-hundred day moving average price is $185.15. General Electric has a 1 year low of $133.99 and a 1 year high of $212.19. The firm has a market capitalization of $218.94 billion, a P/E ratio of 34.06, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. 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 issued its 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%. As a group, research analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. General Electric’s payout ratio is presently 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.