Intact Investment Management Inc. Invests $67,000 in General Electric (NYSE:GE)

Intact Investment Management Inc. purchased a new position in General Electric (NYSE:GE) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 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. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the third quarter worth $25,000. Peterson Financial Group Inc. bought a new position in General Electric during the third quarter valued at about $28,000. RPg Family Wealth Advisory LLC bought a new position in General Electric during the third quarter valued at about $30,000. Hager Investment Management Services LLC bought a new position in General Electric during the fourth quarter valued at about $27,000. Finally, Sugar Maple Asset Management LLC bought a new position in General Electric during the fourth quarter valued at about $29,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 2.6 %

Shares of General Electric stock opened at $197.39 on Friday. The stock has a 50-day moving average price of $195.54 and a 200 day moving average price of $183.91. The company 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 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 has a 1 year low of $131.91 and a 1 year high of $212.19.

General Electric (NYSE:GE) last posted its quarterly 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%. As a group, analysts expect that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. 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%. General Electric’s dividend payout ratio (DPR) is 24.04%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company raised 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 raised 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. Bank of America raised 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. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.