Hoey Investments Inc. Purchases 5,952 Shares of General Electric (NYSE:GE)

Hoey Investments Inc. boosted its holdings in General Electric (NYSE:GE) by 18.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,563 shares of the conglomerate’s stock after buying an additional 5,952 shares during the quarter. General Electric makes up approximately 1.1% of Hoey Investments Inc.’s investment portfolio, making the stock its 11th largest position. Hoey Investments Inc.’s holdings in General Electric were worth $6,265,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of General Electric by 374.1% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,778 shares of the conglomerate’s stock worth $297,000 after purchasing an additional 1,403 shares during the period. Meeder Asset Management Inc. raised its position in General Electric by 216.9% during the 4th quarter. Meeder Asset Management Inc. now owns 564 shares of the conglomerate’s stock worth $94,000 after purchasing an additional 386 shares during the last quarter. AIA Group Ltd raised its position in General Electric by 85.6% during the 4th quarter. AIA Group Ltd now owns 40,978 shares of the conglomerate’s stock worth $6,835,000 after purchasing an additional 18,897 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in General Electric by 27.8% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,645 shares of the conglomerate’s stock worth $444,000 after buying an additional 576 shares during the period. Finally, Partners in Financial Planning bought a new stake in shares of General Electric in the 4th quarter valued at about $564,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. UBS Group boosted their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Bank of America increased their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Citigroup lifted their target price on shares of General Electric from $216.00 to $235.00 and gave the stock 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 assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Down 3.0 %

GE stock opened at $199.66 on Monday. The stock’s 50 day simple moving average is $201.52 and its 200 day simple moving average is $186.64. The company has a market cap of $214.29 billion, a P/E ratio of 33.33, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. 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 has a fifty-two week low of $133.99 and a fifty-two week high of $214.21.

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 analysts’ consensus estimates 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 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. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is 24.04%.

About General Electric

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.