Davis R M Inc. Purchases 57,425 Shares of General Electric (NYSE:GE)

Davis R M Inc. increased its position in General Electric (NYSE:GE) by 1,457.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,364 shares of the conglomerate’s stock after acquiring an additional 57,425 shares during the quarter. Davis R M Inc.’s holdings in General Electric were worth $10,235,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Independent Advisor Alliance raised its holdings in General Electric by 21.5% in the 4th quarter. Independent Advisor Alliance now owns 27,886 shares of the conglomerate’s stock worth $4,651,000 after acquiring an additional 4,943 shares during the period. Johnson Investment Counsel Inc. raised its holdings in General Electric by 1.1% in the 4th quarter. Johnson Investment Counsel Inc. now owns 73,170 shares of the conglomerate’s stock worth $12,204,000 after acquiring an additional 779 shares during the period. Daiwa Securities Group Inc. raised its holdings in General Electric by 8.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 148,141 shares of the conglomerate’s stock worth $24,709,000 after acquiring an additional 11,609 shares during the period. Moran Wealth Management LLC increased its holdings in shares of General Electric by 5.4% during the 4th quarter. Moran Wealth Management LLC now owns 1,360 shares of the conglomerate’s stock worth $227,000 after purchasing an additional 70 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of General Electric by 47.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 646,452 shares of the conglomerate’s stock worth $107,822,000 after purchasing an additional 207,672 shares during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Citigroup boosted their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, UBS Group boosted their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Price Performance

NYSE:GE opened at $191.61 on Tuesday. The firm has a market cap of $205.65 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 12 month low of $130.38 and a 12 month high of $212.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $193.49 and its two-hundred day moving average price is $183.35.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (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, equities analysts anticipate that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.75%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is presently 24.04%.

General Electric Company 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.