Yoffe Investment Management LLC acquired a new position in General Electric (NYSE:GE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,685 shares of the conglomerate's stock, valued at approximately $615,000.
Other institutional investors also recently made changes to their positions in the company. Uniting Wealth Partners LLC purchased a new stake in General Electric during the fourth quarter valued at about $254,000. Arete Wealth Advisors LLC lifted its stake in shares of General Electric by 25.6% in the 4th quarter. Arete Wealth Advisors LLC now owns 7,163 shares of the conglomerate's stock valued at $1,195,000 after acquiring an additional 1,460 shares during the last quarter. World Investment Advisors boosted its holdings in General Electric by 7.6% during the 4th quarter. World Investment Advisors now owns 14,698 shares of the conglomerate's stock valued at $2,451,000 after acquiring an additional 1,036 shares during the period. Nicolet Advisory Services LLC grew its position in General Electric by 9.3% during the 4th quarter. Nicolet Advisory Services LLC now owns 4,821 shares of the conglomerate's stock worth $828,000 after acquiring an additional 412 shares during the last quarter. Finally, Biltmore Family Office LLC increased its stake in General Electric by 13.6% in the 4th quarter. Biltmore Family Office LLC now owns 1,377 shares of the conglomerate's stock worth $230,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.
General Electric Stock Down 1.0 %
Shares of GE stock traded down $1.68 during mid-day trading on Monday, reaching $165.13. 9,421,645 shares of the company's stock traded hands, compared to its average volume of 5,417,510. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company's 50-day moving average price is $201.56 and its 200-day moving average price is $187.10. The company has a market cap of $177.23 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.59 and a beta of 1.04. General Electric has a 12 month low of $146.78 and a 12 month high of $214.21.
General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings data 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 net margin of 14.31% and a return on equity of 22.19%. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio (DPR) is 24.04%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on GE shares. UBS Group raised their target price 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. Bank of America raised their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Citigroup raised their target price on General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Finally, Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They set a "neutral" rating for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $214.73.
Read Our Latest Stock Analysis on GE
General Electric Profile
(
Free Report)
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.
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