Fortress Financial Group LLC Purchases Shares of 2,434 General Electric (NYSE:GE)

Fortress Financial Group LLC purchased a new position in General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,434 shares of the conglomerate’s stock, valued at approximately $406,000.

A number of other institutional investors also recently made changes to their positions in GE. Jennison Associates LLC lifted its position in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after purchasing an additional 1,593,413 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after purchasing an additional 973,135 shares during the period. State Street Corp increased its stake in 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 purchasing an additional 898,296 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in General Electric by 26,959.5% during the 4th quarter. Proficio Capital Partners LLC now owns 554,991 shares of the conglomerate’s stock worth $92,567,000 after buying an additional 552,940 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GE. Wells Fargo & Company lifted their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. boosted their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. UBS Group raised their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Redburn Atlantic began coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Trading Down 0.1 %

Shares of GE stock opened at $201.40 on Friday. General Electric has a 12 month low of $123.06 and a 12 month high of $212.19. 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. 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 business’s 50 day moving average is $189.46 and its two-hundred day moving average is $181.72.

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 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%. Equities analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared 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 positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. General Electric’s payout ratio is 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.