HighPoint Advisor Group LLC Has $6.30 Million Stock Position in General Electric (NYSE:GE)

HighPoint Advisor Group LLC increased its position in shares of General Electric (NYSE:GE) by 0.2% during the 4th quarter, HoldingsChannel reports. The fund owned 37,764 shares of the conglomerate’s stock after purchasing an additional 75 shares during the quarter. HighPoint Advisor Group LLC’s holdings in General Electric were worth $6,299,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Family Legacy Inc. grew its holdings in General Electric by 3.7% during the 4th quarter. Family Legacy Inc. now owns 14,010 shares of the conglomerate’s stock worth $2,422,000 after acquiring an additional 500 shares during the period. B. Metzler seel. Sohn & Co. AG boosted its position in shares of General Electric by 26.1% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 45,383 shares of the conglomerate’s stock worth $7,569,000 after purchasing an additional 9,393 shares during the last quarter. Seven Mile Advisory grew its stake in shares of General Electric by 33.3% during the fourth quarter. Seven Mile Advisory now owns 1,465 shares of the conglomerate’s stock worth $244,000 after purchasing an additional 366 shares during the period. Summit Financial LLC increased its holdings in General Electric by 12.9% in the fourth quarter. Summit Financial LLC now owns 9,281 shares of the conglomerate’s stock valued at $1,551,000 after purchasing an additional 1,063 shares during the last quarter. Finally, Hoey Investments Inc. lifted its stake in General Electric by 18.8% in the fourth quarter. Hoey Investments Inc. now owns 37,563 shares of the conglomerate’s stock valued at $6,265,000 after buying an additional 5,952 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. UBS Group increased their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. JPMorgan Chase & Co. lifted 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 initiated coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Redburn Atlantic started coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Trading Down 3.0 %

General Electric stock opened at $199.66 on Monday. The company has a market cap of $214.29 billion, a price-to-earnings ratio of 33.33, a P/E/G ratio of 2.59 and a beta of 1.19. The firm has a 50-day moving average of $201.52 and a 200-day moving average of $186.64. 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 has a one year low of $133.99 and a one year high of $214.21.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (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%. On average, equities analysts expect that General Electric will post 5.4 earnings per share for the current fiscal 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 paid a $0.36 dividend. The ex-dividend date is Monday, March 10th. 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 0.72%. 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.