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

1620 Investment Advisors Inc. purchased a new position in shares of General Electric (NYSE:GE) during the 4th quarter, HoldingsChannel reports. The firm purchased 350 shares of the conglomerate’s stock, valued at approximately $58,000.

Other hedge funds also recently modified their holdings of the company. Hager Investment Management Services LLC acquired a new position in shares of General Electric during the 4th quarter worth $27,000. Sugar Maple Asset Management LLC acquired a new position in shares of General Electric during the 4th quarter worth $29,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of General Electric during the 4th quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric during the 3rd quarter worth $30,000. Finally, Picton Mahoney Asset Management increased its stake in shares of General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the topic of several analyst reports. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. raised 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. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Finally, Citigroup raised their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

NYSE:GE opened at $203.99 on Friday. The company has a 50-day moving average of $198.63 and a 200-day moving average of $184.87. The company has a market capitalization of $218.94 billion, a price-to-earnings ratio of 34.06, a PEG 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 company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last released its quarterly earnings data 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%. As a group, equities research analysts anticipate 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 issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is presently 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.