Elwood Capital Partners LP Makes New Investment in General Electric (NYSE:GE)

Elwood Capital Partners LP bought a new position in General Electric (NYSE:GE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 29,379 shares of the conglomerate's stock, valued at approximately $4,900,000. General Electric makes up about 4.8% of Elwood Capital Partners LP's holdings, making the stock its 5th biggest position.

Several other hedge funds have also added to or reduced their stakes in GE. Johnson & White Wealth Management LLC bought a new stake in shares of General Electric during the 4th quarter valued at about $733,000. Chung Wu Investment Group LLC purchased a new position in shares of General Electric during the fourth quarter valued at approximately $795,000. State Street Corp increased its holdings in General Electric by 2.1% during 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 increased its holdings in shares of General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate's stock valued at $5,318,000 after acquiring an additional 20,575 shares during the period. Finally, World Investment Advisors LLC grew its stake in General Electric by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate's stock worth $2,576,000 after buying an additional 5,162 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Price Performance

NYSE:GE traded down $12.66 during mid-day trading on Thursday, reaching $187.11. The stock had a trading volume of 10,586,516 shares, compared to its average volume of 5,449,586. The firm has a 50 day moving average price of $202.43 and a two-hundred day moving average price of $187.12. General Electric has a one year low of $138.01 and a one year high of $214.21. The stock has a market capitalization of $200.82 billion, a P/E ratio of 31.28, a P/E/G 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.

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General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This is a positive change from General Electric's previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.77%. General Electric's dividend payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GE. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a "neutral" rating on the stock. Redburn Atlantic initiated coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. UBS Group upped their target price on shares of General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a report on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.31.

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.