CBIZ Investment Advisory Services LLC Invests $29,000 in General Electric (NYSE:GE)

CBIZ Investment Advisory Services LLC purchased a new position in General Electric (NYSE:GE) during the 4th quarter, HoldingsChannel reports. The fund purchased 173 shares of the conglomerate’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp lifted its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Geode Capital Management LLC raised its stake in General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the period. Jennison Associates LLC raised its stake in General Electric by 1.4% during the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after purchasing an additional 106,891 shares during the period. Bank of New York Mellon Corp raised its stake in General Electric by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock worth $1,128,571,000 after purchasing an additional 115,257 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in General Electric by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock worth $1,122,966,000 after purchasing an additional 202,233 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Wells Fargo & Company lifted their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Redburn Atlantic began coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Up 2.6 %

Shares of NYSE:GE opened at $197.39 on Friday. The company has a market capitalization of $211.85 billion, a PE 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 twelve month low of $131.91 and a twelve month high of $212.19. The firm has a 50 day simple moving average of $195.54 and a 200-day simple moving average of $183.91.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, equities analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend yield of 0.73%. The ex-dividend date is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 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.