American Money Management LLC Has $2.87 Million Stock Position in General Electric (NYSE:GE)

American Money Management LLC grew its stake in General Electric (NYSE:GE) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,209 shares of the conglomerate’s stock after buying an additional 566 shares during the quarter. American Money Management LLC’s holdings in General Electric were worth $2,870,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. New Age Alpha Advisors LLC boosted its stake in General Electric by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 84 shares during the period. Hager Investment Management Services LLC acquired a new position in shares of General Electric during the fourth quarter worth about $27,000. Sugar Maple Asset Management LLC bought a new position in shares of General Electric during the fourth quarter worth about $29,000. CBIZ Investment Advisory Services LLC bought a new stake in General Electric in the 4th quarter valued at approximately $29,000. Finally, Picton Mahoney Asset Management boosted its position in 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 acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE GE opened at $199.66 on Friday. The firm has a 50-day moving average price of $201.52 and a two-hundred day moving average price of $186.50. General Electric has a 12-month low of $133.99 and a 12-month high of $214.21. The company has a market capitalization of $214.29 billion, a P/E ratio of 33.33, 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 issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that General Electric will post 5.4 earnings per share for the current 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 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 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is 24.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GE. 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 research report on Monday, January 27th. Wells Fargo & Company raised their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Bank of America raised their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.