Synergy Investment Management LLC Makes New Investment in General Electric (NYSE:GE)

Synergy Investment Management LLC acquired a new position in shares of General Electric (NYSE:GE) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 320 shares of the conglomerate’s stock, valued at approximately $53,000.

Several other hedge funds also recently added to or reduced their stakes in GE. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the 3rd quarter worth about $25,000. Hager Investment Management Services LLC bought a new position in shares of General Electric in the 4th quarter worth about $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric in the 3rd quarter worth about $28,000. Sugar Maple Asset Management LLC bought a new position in shares of General Electric in the 4th quarter worth about $29,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of General Electric in the 3rd quarter worth about $30,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on GE. Bank of America raised their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Citigroup raised their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic began coverage on shares of General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Down 1.6 %

GE stock opened at $198.82 on Wednesday. General Electric has a 52 week low of $125.26 and a 52 week high of $212.19. The company has a market capitalization of $213.39 billion, a price-to-earnings ratio of 33.19, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. The firm’s 50-day moving average is $191.44 and its two-hundred day moving average is $182.63. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. On average, analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend 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 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.