Assetmark Inc. Increases Position in General Electric (NYSE:GE)

Assetmark Inc. grew its stake in General Electric (NYSE:GE) by 14.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 312,142 shares of the conglomerate’s stock after acquiring an additional 40,091 shares during the quarter. Assetmark Inc.’s holdings in General Electric were worth $52,062,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter worth about $25,000. Hager Investment Management Services LLC acquired a new position in shares of General Electric in the 4th quarter valued at about $27,000. Peterson Financial Group Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at about $28,000. Sugar Maple Asset Management LLC acquired a new position in General Electric in the 4th quarter worth about $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in General Electric in the 3rd quarter worth about $30,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GE shares. Citigroup boosted their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Northcoast Research started coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Up 1.9 %

Shares of NYSE GE opened at $202.61 on Thursday. General Electric has a 52-week low of $126.78 and a 52-week high of $212.19. The firm has a fifty day moving average of $192.06 and a 200-day moving average of $182.77. The stock has a market capitalization of $217.46 billion, a PE ratio of 33.83, a P/E/G ratio of 2.59 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last posted its earnings results 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%. On average, analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s 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.