Choate Investment Advisors Purchases 355 Shares of General Electric (NYSE:GE)

Choate Investment Advisors increased its position in General Electric (NYSE:GE) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,054 shares of the conglomerate’s stock after buying an additional 355 shares during the quarter. Choate Investment Advisors’ holdings in General Electric were worth $2,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its position in General Electric by 14.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,013 shares of the conglomerate’s stock valued at $757,000 after purchasing an additional 513 shares during the last quarter. Zions Bancorporation N.A. lifted its position in General Electric by 23.7% in the third quarter. Zions Bancorporation N.A. now owns 2,891 shares of the conglomerate’s stock valued at $545,000 after purchasing an additional 553 shares during the last quarter. CIBC Asset Management Inc lifted its position in General Electric by 7.5% in the third quarter. CIBC Asset Management Inc now owns 158,286 shares of the conglomerate’s stock valued at $29,850,000 after purchasing an additional 11,057 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in General Electric in the third quarter valued at approximately $25,000. Finally, KCM Investment Advisors LLC increased its stake in shares of General Electric by 1.8% during the third quarter. KCM Investment Advisors LLC now owns 4,261 shares of the conglomerate’s stock valued at $804,000 after buying an additional 75 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 analyst reports. UBS Group boosted their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Citigroup boosted their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Finally, Bank of America boosted their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Trading Up 2.6 %

NYSE GE opened at $197.39 on Friday. General Electric has a 12 month low of $131.91 and a 12 month high of $212.19. The stock has a market cap of $211.85 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.59 and a beta of 1.19. The stock’s fifty day moving average price is $195.54 and its 200-day moving average price is $183.91. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. As a group, equities analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared 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 an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.73%. 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.