Nemes Rush Group LLC Raises Holdings in General Electric (NYSE:GE)

Nemes Rush Group LLC grew its stake in General Electric (NYSE:GE) by 35.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,464 shares of the conglomerate’s stock after buying an additional 387 shares during the quarter. Nemes Rush Group LLC’s holdings in General Electric were worth $244,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GE. Truvestments Capital LLC raised its holdings in General Electric by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 49 shares in the last quarter. Ballast Advisors LLC increased its position in shares of General Electric by 2.5% in the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after purchasing an additional 51 shares during the last quarter. Blue Barn Wealth LLC raised its holdings in shares of General Electric by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after purchasing an additional 54 shares in the last quarter. Game Plan Financial Advisors LLC lifted its position in shares of General Electric by 10.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after purchasing an additional 55 shares during the last quarter. Finally, Red Door Wealth Management LLC lifted its position in shares of General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 56 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GE shares. JPMorgan Chase & Co. raised their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Wells Fargo & Company increased their price target on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Price Performance

Shares of GE opened at $203.90 on Wednesday. The company has a market capitalization of $218.85 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a fifty-two week low of $133.99 and a fifty-two week high of $214.21. The firm has a 50-day simple moving average of $202.20 and a 200-day simple moving average of $187.04. 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 (NYSE:GE) last posted 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 return on equity of 22.19% and a net margin of 14.31%. On average, equities research analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm 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 is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.71%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is 24.04%.

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.