Sierra Ocean LLC Purchases Shares of 697 General Electric (NYSE:GE)

Sierra Ocean LLC acquired a new position in General Electric (NYSE:GE) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 697 shares of the conglomerate’s stock, valued at approximately $116,000.

Several other hedge funds have also recently made changes to their positions in GE. Toth Financial Advisory Corp purchased a new stake in General Electric in the third quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric in the 3rd quarter worth about $27,000. Peterson Financial Group Inc. purchased a new position in General Electric during the 3rd quarter valued at about $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in General Electric during the 3rd quarter valued at about $30,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of several analyst reports. 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 report on Friday, January 24th. Citigroup raised their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Finally, UBS Group upped their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Stock Up 0.1 %

GE stock opened at $208.62 on Monday. The business’s 50-day moving average price is $182.66 and its 200-day moving average price is $179.33. The stock has a market cap of $223.91 billion, a P/E ratio of 34.83, a PEG ratio of 2.56 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $117.43 and a twelve month high of $211.42.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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 forecast that General Electric will post 5.39 EPS for the current 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 issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.69%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 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.