Fortress Financial Group LLC Takes $406,000 Position in General Electric (NYSE:GE)

Fortress Financial Group LLC purchased a new stake in General Electric (NYSE:GE) during the fourth quarter, Holdings Channel reports. The firm purchased 2,434 shares of the conglomerate’s stock, valued at approximately $406,000.

Several other hedge funds have also modified their holdings of the stock. Valley Wealth Managers Inc. acquired a new position in General Electric in the third quarter valued at approximately $25,000. Hager Investment Management Services LLC acquired a new position in shares of General Electric in the 4th quarter valued at $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric in the 3rd quarter worth $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric during the fourth quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of General Electric during the third quarter worth $30,000. 74.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. 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 increased their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Redburn Atlantic assumed coverage on General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Price Performance

Shares of NYSE GE opened at $201.40 on Friday. General Electric has a twelve month low of $123.06 and a twelve month high of $212.19. The business’s 50 day moving average price is $189.46 and its two-hundred day moving average price is $181.72. 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 company has a market cap of $216.17 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21.

General Electric (NYSE:GE) last released its quarterly 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 return on equity of 22.19% and a net margin of 14.31%. On average, analysts predict that General Electric will post 5.4 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. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.71%. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

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.