Delta Financial Group Inc. Invests $1.94 Million in General Electric (NYSE:GE)

Delta Financial Group Inc. bought a new position in General Electric (NYSE:GE) in the 4th quarter, HoldingsChannel reports. The fund bought 11,598 shares of the conglomerate’s stock, valued at approximately $1,935,000.

Other hedge funds also recently made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the 3rd quarter worth approximately $27,000. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the 4th quarter worth approximately $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric in the 3rd quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of General Electric in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of NYSE GE opened at $199.90 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $214.55 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 2.59 and a beta of 1.22. The stock’s fifty day simple moving average is $186.57 and its 200 day simple moving average is $180.85. General Electric has a 52-week low of $119.88 and a 52-week high of $212.19.

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, 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%. As a group, sell-side analysts forecast that General Electric will post 5.4 earnings per share 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. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is presently 18.70%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GE. Northcoast Research began coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Bank of America raised their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. raised their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.