Yoffe Investment Management LLC Invests $615,000 in General Electric (NYSE:GE)

Yoffe Investment Management LLC bought a new position in shares of General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,685 shares of the conglomerate’s stock, valued at approximately $615,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GE. Truvestments Capital LLC boosted its position in shares of General Electric by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock worth $39,000 after buying an additional 49 shares during the period. Ballast Advisors LLC increased its stake in General Electric by 2.5% during the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock worth $349,000 after buying an additional 51 shares during the period. Blue Barn Wealth LLC grew its stake in shares of General Electric by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after acquiring an additional 54 shares in the last quarter. Game Plan Financial Advisors LLC increased its position 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 last quarter. Finally, Red Door Wealth Management LLC boosted its holdings in 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 purchasing an additional 56 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on GE shares. Citigroup upped their price target 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. JPMorgan Chase & Co. raised their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Bank of America upped their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, UBS Group lifted their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

Shares of General Electric stock opened at $187.30 on Friday. The stock’s 50-day moving average is $202.16 and its 200-day moving average is $187.13. General Electric has a one year low of $146.21 and a one year high of $214.21. The firm has a market cap of $201.03 billion, a price-to-earnings ratio of 31.27, 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 current ratio of 1.09 and a quick ratio of 0.81.

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

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. 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.