1620 Investment Advisors Inc. Makes New $58,000 Investment in General Electric (NYSE:GE)

1620 Investment Advisors Inc. bought a new position in General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 350 shares of the conglomerate’s stock, valued at approximately $58,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the period. Geode Capital Management LLC lifted its stake in shares of General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after acquiring an additional 156,272 shares during the period. Jennison Associates LLC lifted its stake in shares of General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after acquiring an additional 106,891 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of General Electric by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock worth $1,128,571,000 after acquiring an additional 115,257 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of General Electric by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock worth $1,122,966,000 after acquiring an additional 202,233 shares during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Bank of America increased their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Up 0.0 %

Shares of NYSE:GE opened at $203.99 on Friday. 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 company has a market cap of $218.94 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 52 week low of $133.99 and a 52 week high of $212.19. The firm has a 50 day simple moving average of $198.63 and a 200 day simple moving average of $184.87.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. As a group, research analysts expect that General Electric will post 5.4 earnings per share for the current 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 $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend 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 is currently 24.04%.

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.