Intact Investment Management Inc. Buys New Position in General Electric (NYSE:GE)

Intact Investment Management Inc. acquired a new stake in shares of General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 400 shares of the conglomerate’s stock, valued at approximately $67,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its holdings in shares of General Electric by 14.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,013 shares of the conglomerate’s stock worth $757,000 after purchasing an additional 513 shares during the period. Zions Bancorporation N.A. boosted its holdings in General Electric by 23.7% in the 3rd quarter. Zions Bancorporation N.A. now owns 2,891 shares of the conglomerate’s stock worth $545,000 after acquiring an additional 553 shares during the period. CIBC Asset Management Inc boosted its holdings in General Electric by 7.5% in the 3rd quarter. CIBC Asset Management Inc now owns 158,286 shares of the conglomerate’s stock worth $29,850,000 after acquiring an additional 11,057 shares during the period. Valley Wealth Managers Inc. purchased a new position in General Electric in the 3rd quarter worth approximately $25,000. Finally, KCM Investment Advisors LLC boosted its holdings in General Electric by 1.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 4,261 shares of the conglomerate’s stock worth $804,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Bank of America upped their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Citigroup upped their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

Shares of NYSE GE opened at $197.39 on Friday. General Electric has a 1-year low of $131.91 and a 1-year high of $212.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The business’s fifty day moving average price is $195.54 and its two-hundred day moving average price is $183.91. The firm has a market capitalization of $211.85 billion, a PE ratio of 32.95, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, research analysts expect that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.73%. General Electric’s dividend payout ratio (DPR) 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.