AXQ Capital LP Acquires Shares of 4,703 General Electric (NYSE:GE)

AXQ Capital LP bought a new position in General Electric (NYSE:GE - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,703 shares of the conglomerate's stock, valued at approximately $784,000.

Several other hedge funds have also made changes to their positions in the company. Johnson & White Wealth Management LLC purchased a new stake in General Electric in the fourth quarter worth about $733,000. Chung Wu Investment Group LLC bought a new stake in shares of General Electric in the 4th quarter valued at about $795,000. State Street Corp lifted its position in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Soltis Investment Advisors LLC boosted its stake in shares of General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate's stock valued at $5,318,000 after purchasing an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC increased its holdings in General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate's stock valued at $2,576,000 after buying an additional 5,162 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They set a "neutral" rating for the company. Redburn Atlantic started coverage on General Electric in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price 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. Bank of America raised their price target on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, Citigroup boosted their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $211.31.

Remove Ads

General Electric Stock Performance

Shares of NYSE GE traded up $1.75 during mid-day trading on Tuesday, hitting $211.98. The stock had a trading volume of 1,867,016 shares, compared to its average volume of 5,350,355. The firm has a market cap of $227.51 billion, a PE ratio of 35.35, a PEG ratio of 2.59 and a beta of 1.19. 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 company has a 50 day moving average of $199.41 and a two-hundred day moving average of $185.47. General Electric has a twelve month low of $133.99 and a twelve month high of $212.19.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. Research analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.68%. This is a boost from General Electric's previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric's payout ratio is presently 24.04%.

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.