Fortress Financial Group LLC Acquires Shares of 2,434 General Electric (NYSE:GE)

Fortress Financial Group LLC acquired a new position in shares of General Electric (NYSE:GE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,434 shares of the conglomerate's stock, valued at approximately $406,000.

A number of other large investors also recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC grew its stake in shares of General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate's stock worth $51,000 after purchasing an additional 146 shares during the period. Johnson & White Wealth Management LLC acquired a new position in General Electric during the fourth quarter valued at approximately $733,000. State Street Corp raised its holdings in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Soltis Investment Advisors LLC boosted its position in shares of General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate's stock worth $5,318,000 after purchasing an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC grew its holdings in shares of General Electric by 60.7% in the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate's stock valued at $2,576,000 after buying an additional 5,162 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GE shares. Redburn Atlantic assumed coverage on General Electric in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They issued a "neutral" rating for the company. Wells Fargo & Company raised their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a 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 report on Friday, January 24th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $211.31.

Remove Ads

General Electric Stock Performance

General Electric stock traded down $3.14 during midday trading on Tuesday, reaching $198.82. 6,160,636 shares of the company's stock were exchanged, compared to its average volume of 5,292,533. The stock's 50-day simple moving average is $190.89 and its 200 day simple moving average is $182.42. The firm has a market cap of $213.39 billion, a price-to-earnings ratio of 33.19, a P/E/G ratio of 2.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a 52 week low of $125.26 and a 52 week high of $212.19.

General Electric (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, analysts expect that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio (DPR) is currently 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.