Hickory Point Bank & Trust Buys New Stake in General Electric (NYSE:GE)

Hickory Point Bank & Trust acquired a new position in shares of General Electric (NYSE:GE) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,093 shares of the conglomerate’s stock, valued at approximately $349,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Game Plan Financial Advisors LLC boosted its holdings in shares of General Electric by 10.5% during the fourth 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 period. Red Door Wealth Management LLC boosted its stake in shares of General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after buying an additional 56 shares during the period. WR Wealth Planners LLC raised its position in General Electric by 30.6% during the fourth quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 56 shares in the last quarter. Saxon Interests Inc. raised its position in General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after purchasing an additional 57 shares in the last quarter. Finally, Old North State Wealth Management LLC raised its position in General Electric by 3.0% during the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after purchasing an additional 58 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Up 2.9 %

NYSE GE opened at $207.22 on Friday. The business has a fifty day moving average price of $190.24 and a 200 day moving average price of $182.10. General Electric has a one year low of $124.08 and a one year high of $212.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market cap of $222.40 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate 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 paid a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is 24.04%.

Wall Street Analysts Forecast Growth

GE has been the subject of several research analyst reports. Redburn Atlantic initiated coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. JPMorgan Chase & Co. upped their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Citigroup upped their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, UBS Group increased their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $211.31.

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.