NewSquare Capital LLC Raises Position in General Electric (NYSE:GE)

NewSquare Capital LLC raised its holdings in shares of General Electric (NYSE:GE) by 42.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 552 shares of the conglomerate’s stock after buying an additional 164 shares during the period. NewSquare Capital LLC’s holdings in General Electric were worth $92,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the third quarter worth approximately $25,000. Hager Investment Management Services LLC purchased a new stake in General Electric during the 4th quarter valued at $27,000. Peterson Financial Group Inc. bought a new stake in General Electric in the 3rd quarter worth $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Electric in the fourth quarter valued at about $29,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of General Electric during the third quarter valued at about $30,000. 74.77% of the stock is owned by institutional investors.

General Electric Price Performance

GE stock opened at $202.61 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a 50 day moving average price of $192.06 and a 200-day moving average price of $182.77. General Electric has a 52-week low of $126.78 and a 52-week high of $212.19. The firm has a market capitalization of $217.46 billion, a price-to-earnings ratio of 33.83, a PEG ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.71%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 24.04%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GE shares. Citigroup raised their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company lifted their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. 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 report on Monday, January 27th. UBS Group lifted their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. upped 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. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $211.31.

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.