Grove Street Fiduciary LLC Buys Shares of 1,866 General Electric (NYSE:GE)

Grove Street Fiduciary LLC purchased a new position in shares of General Electric (NYSE:GE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,866 shares of the conglomerate’s stock, valued at approximately $311,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Game Plan Financial Advisors LLC grew its position in General Electric by 10.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock valued at $96,000 after buying an additional 55 shares during the last quarter. Red Door Wealth Management LLC lifted its stake in shares of General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after acquiring an additional 56 shares during the period. Saxon Interests Inc. lifted its stake in shares of General Electric by 4.2% in the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after acquiring an additional 57 shares during the period. Old North State Wealth Management LLC boosted its holdings in shares of General Electric by 3.0% in the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after acquiring an additional 58 shares in the last quarter. Finally, Northeast Investment Management increased its stake in shares of General Electric by 2.2% during the fourth quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock worth $452,000 after acquiring an additional 59 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GE shares. Redburn Atlantic assumed coverage on shares of General Electric in a research report on Tuesday. They issued a “buy” rating and a $250.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Bank of America upped their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Price Performance

General Electric stock opened at $208.93 on Friday. 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 firm’s 50-day simple moving average is $185.89 and its 200 day simple moving average is $180.43. General Electric has a 52 week low of $118.13 and a 52 week high of $212.19. The firm has a market capitalization of $224.24 billion, a PE ratio of 34.88, a P/E/G ratio of 2.62 and a beta of 1.22.

General Electric (NYSE:GE) last announced 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%. On average, equities research analysts predict that General Electric will post 5.4 EPS 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. Shareholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 18.70%.

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.