4,765 Shares in General Electric (NYSE:GE) Acquired by Chung Wu Investment Group LLC

Chung Wu Investment Group LLC purchased a new stake in General Electric (NYSE:GE) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,765 shares of the conglomerate’s stock, valued at approximately $795,000. General Electric accounts for about 0.8% of Chung Wu Investment Group LLC’s portfolio, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC raised its position in shares of General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after buying an additional 146 shares in the last quarter. United Advisor Group LLC bought a new stake in shares of General Electric during the 3rd quarter valued at $304,000. Pittenger & Anderson Inc. grew its holdings in shares of General Electric by 615.1% during the 3rd quarter. Pittenger & Anderson Inc. now owns 1,044 shares of the conglomerate’s stock worth $197,000 after purchasing an additional 898 shares in the last quarter. Crestwood Advisors Group LLC increased its position in shares of General Electric by 19.5% in the third quarter. Crestwood Advisors Group LLC now owns 12,905 shares of the conglomerate’s stock worth $2,434,000 after purchasing an additional 2,106 shares during the period. Finally, Marks Group Wealth Management Inc raised its stake in General Electric by 221.5% in the third quarter. Marks Group Wealth Management Inc now owns 11,933 shares of the conglomerate’s stock valued at $2,250,000 after purchasing an additional 8,221 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

GE opened at $202.61 on Thursday. General Electric has a 1 year low of $126.78 and a 1 year high of $212.19. The company has a market capitalization of $217.46 billion, a price-to-earnings ratio of 33.83, a P/E/G ratio of 2.59 and a beta of 1.19. The firm’s fifty day moving average price is $192.06 and its two-hundred day moving average price is $182.77. 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 (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts anticipate 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. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Wall Street Analyst Weigh In

GE has been the topic of several recent analyst reports. Bank of America raised their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Redburn Atlantic started coverage on General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. UBS Group lifted their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company raised their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus target price 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.