Berkshire Asset Management LLC PA Reduces Stake in General Electric

Berkshire Asset Management LLC PA has lowered its position in General Electric (NYSE:GE) by 13.8% during the fourth quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission. This adjustment means the fund now holds 23,611 shares after selling 3,784 shares during that period. The total value of Berkshire Asset Management LLC PA's holdings in General Electric is approximately $3.94 million based on the most recent assessment.

In addition to Berkshire, several hedge funds have also adjusted their investments in General Electric. For instance, Catalyst Capital Advisors LLC increased its stake by 117.7% in the third quarter, now owning 270 shares valued at around $51,000 after acquiring an additional 146 shares. Johnson & White Wealth Management LLC entered the fourth quarter with a new investment in General Electric worth roughly $733,000. Moreover, State Street Corp raised its stake by 2.1% during the third quarter, amassing a total of 43,322,827 shares valued at around $8.18 billion after acquiring an extra 898,296 shares last quarter. Soltis Investment Advisors LLC saw a significant increase of 269.8% during the same quarter, currently holding 28,201 shares worth $5.32 million after adding 20,575 shares. World Investment Advisors LLC also boosted its investment by 60.7% in the third quarter, now controlling 13,662 shares valued at roughly $2.58 million. Notably, institutional investors and hedge funds collectively own 74.77% of General Electric's stock.

Recent Analyst Insights

Several financial analysts have recently shared their outlooks on General Electric. Notably, JPMorgan Chase & Co. raised their target price from $190.00 to $210.00 and assigned the company an "overweight" rating. Similarly, Bank of America elevated their price target from $200.00 to $225.00, offering a "buy" recommendation. Redburn Atlantic began coverage of General Electric with a "buy" rating and a target of $250.00. Additionally, Wells Fargo & Company also adjusted their price target upward from $225.00 to $250.00 while maintaining an "overweight" rating. On the other hand, Deutsche Bank Aktiengesellschaft reduced their target price slightly from $235.00 to $228.00 but kept a "buy" rating. The consensus among analysts gives General Electric a "Moderate Buy" rating, with an average price target of $211.31.

Stock Performance Overview

As of the last trading session, General Electric's stock opened at $196.06. The stock has experienced a fifty-two week low of $129.26 and a fifty-two week high of $212.19. The firm’s 50-day simple moving average stands at $192.54, while its 200-day simple moving average is $182.86. General Electric holds a market capitalization of approximately $210.43 billion, a PE ratio of 32.73, and a price-to-earnings-growth ratio of 2.59.

Recent Earnings Report

General Electric announced its latest quarterly earnings on January 23rd. The conglomerate reported earnings per share of $1.32, surpassing analysts' expectations of $1.05 by $0.27. The company boasts a return on equity of 22.19% alongside a net margin of 14.31%. Analysts predict that General Electric will achieve 5.4 EPS for the current fiscal year.

Dividend Increase Announcement

In addition to its financial performance, General Electric recently declared a quarterly dividend, which is set to be paid on April 25th. Stockholders who are on record by March 10th will receive a dividend of $0.36, an increase from the previous dividend of $0.28. This results in an annualized dividend of $1.44, yielding a dividend yield of 0.73%. The dividend payout ratio for General Electric currently stands at 24.04%.

Company Overview

General Electric Company, known for its work as GE Aerospace, designs and manufactures commercial and defense aircraft engines, electric power systems, and mechanical aircraft systems. They also provide aftermarket support for their products, operating globally across the Americas, Europe, Asia, and more.

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