Sagespring Wealth Partners LLC Buys Shares of 9,688 General Electric (NYSE:GE)

Sagespring Wealth Partners LLC purchased a new stake in shares of General Electric (NYSE:GE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,688 shares of the conglomerate's stock, valued at approximately $1,616,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. New Age Alpha Advisors LLC grew its holdings in shares of General Electric by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate's stock worth $25,000 after purchasing an additional 84 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in General Electric in the 4th quarter valued at about $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in General Electric in the 4th quarter worth approximately $28,000. Sugar Maple Asset Management LLC bought a new position in General Electric in the 4th quarter valued at $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in General Electric in the fourth quarter valued at about $29,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Up 0.9 %

General Electric stock traded up $1.70 during midday trading on Thursday, reaching $184.15. The stock had a trading volume of 2,139,258 shares, compared to its average volume of 5,449,932. General Electric has a 1-year low of $146.78 and a 1-year high of $214.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm's fifty day simple moving average is $197.13 and its 200-day simple moving average is $186.58. The stock has a market capitalization of $197.64 billion, a P/E ratio of 30.71, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE - Get Free Report) last issued 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%. As a group, analysts expect that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.78%. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is 24.04%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GE shares. Wells Fargo & Company raised their price objective on shares of General Electric from $203.00 to $212.00 and gave the company an "overweight" rating in a research note on Tuesday. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on 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 increased their price target on shares of General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Finally, Northcoast Research raised shares of General Electric from a "neutral" rating to a "buy" rating and set a $205.00 price objective on the stock in a research note on Wednesday, April 9th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $213.33.

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.