Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of General Electric (NYSE:GE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,088 shares of the conglomerate's stock, valued at approximately $849,000.
Other hedge funds have also made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new stake in General Electric during the third quarter worth approximately $30,000. Hager Investment Management Services LLC acquired a new stake in General Electric during the 4th quarter worth $27,000. Sugar Maple Asset Management LLC acquired a new position in General Electric in the fourth quarter valued at $29,000. Truvestments Capital LLC purchased a new position in shares of General Electric during the third quarter worth about $35,000. Finally, Parkworth Wealth Management Inc. acquired a new stake in shares of General Electric during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 74.77% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. Citigroup upped their price target on shares of General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Northcoast Research began coverage on General Electric in a report on Tuesday, January 7th. They set a "neutral" rating on the stock. Bank of America upped their price objective on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company lifted 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. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has an average rating of "Moderate Buy" and an average price target of $211.31.
Check Out Our Latest Report on GE
General Electric Price Performance
Shares of NYSE:GE traded up $1.95 on Tuesday, reaching $212.18. 4,314,097 shares of the company were exchanged, compared to its average volume of 5,350,355. The company has a 50-day moving average of $199.41 and a 200-day moving average of $185.47. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market cap of $227.73 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 1-year low of $133.99 and a 1-year high of $212.19.
General Electric (NYSE:GE - Get Free Report) last issued its earnings results 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%. Equities analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.
General Electric Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.68%. This is an increase from General Electric's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric's payout ratio is presently 24.04%.
About General Electric
(
Free Report)
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.
Featured Articles
Before you consider General Electric, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and General Electric wasn't on the list.
While General Electric currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
