General Electric (NYSE:GE) Shares Bought by Nemes Rush Group LLC

Nemes Rush Group LLC lifted its stake in shares of General Electric (NYSE:GE) by 35.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,464 shares of the conglomerate’s stock after acquiring an additional 387 shares during the period. Nemes Rush Group LLC’s holdings in General Electric were worth $244,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Johnson & White Wealth Management LLC acquired a new stake in shares of General Electric during the 4th quarter worth about $733,000. Chung Wu Investment Group LLC purchased a new position in shares of General Electric during the fourth quarter valued at approximately $795,000. State Street Corp boosted its position in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Soltis Investment Advisors LLC grew its stake in General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after acquiring an additional 20,575 shares during the period. Finally, World Investment Advisors LLC raised its holdings in 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 acquiring an additional 5,162 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

GE stock opened at $203.90 on Wednesday. The firm has a market cap of $218.85 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. 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 1 year low of $133.99 and a 1 year high of $214.21. The stock has a 50-day simple moving average of $202.20 and a 200-day simple moving average of $187.04.

General Electric (NYSE:GE) last issued its quarterly earnings data 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 analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GE. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Redburn Atlantic assumed coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Finally, Citigroup boosted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Company 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.