Check Capital Management Inc. CA Buys New Position in General Electric (NYSE:GE)

Check Capital Management Inc. CA bought a new stake in shares of General Electric (NYSE:GE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,327 shares of the conglomerate’s stock, valued at approximately $555,000.

Several other hedge funds also recently modified their holdings of the stock. Toth Financial Advisory Corp purchased a new position in General Electric in the third quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric in the third quarter worth $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the third quarter worth $27,000. Hager Investment Management Services LLC purchased a new position in General Electric in the fourth quarter worth $27,000. Finally, Peterson Financial Group Inc. purchased a new position in General Electric in the third quarter worth $28,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by company insiders.

General Electric Stock Performance

NYSE:GE opened at $208.62 on Friday. General Electric has a 52-week low of $117.43 and a 52-week high of $211.42. The business’s fifty day moving average is $182.66 and its 200 day moving average is $179.25. 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 firm has a market cap of $223.91 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 2.56 and a beta of 1.22.

General Electric (NYSE:GE) last posted its earnings results 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%. Research analysts predict that General Electric will post 5.39 EPS for the current year.

General Electric Increases Dividend

The firm 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 dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is presently 18.70%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GE shares. Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Citigroup boosted their target price on 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 assumed coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $208.73.

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.