Choate Investment Advisors Acquires 355 Shares of General Electric (NYSE:GE)

Choate Investment Advisors boosted its stake in General Electric (NYSE:GE) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,054 shares of the conglomerate’s stock after purchasing an additional 355 shares during the quarter. Choate Investment Advisors’ holdings in General Electric were worth $2,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC raised its stake in shares of General Electric by 26.2% during the 4th quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 49 shares during the period. Blue Barn Wealth LLC raised its stake in shares of General Electric by 3.8% during the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after purchasing an additional 54 shares during the period. Game Plan Financial Advisors LLC increased its holdings in General Electric by 10.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after acquiring an additional 55 shares during the last quarter. Red Door Wealth Management LLC increased its holdings in 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 last quarter. Finally, WR Wealth Planners LLC increased its holdings in General Electric by 30.6% in the 4th quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Wells Fargo & Company lifted their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Citigroup lifted their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Up 2.6 %

Shares of NYSE GE opened at $197.39 on Friday. General Electric has a 12 month low of $131.91 and a 12 month high of $212.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $211.85 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 2.59 and a beta of 1.19. The business has a 50-day moving average of $195.54 and a 200-day moving average of $183.91.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Sell-side analysts expect that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.73%. General Electric’s payout ratio is presently 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.