Elwood Capital Partners LP Buys Shares of 29,379 General Electric (NYSE:GE)

Elwood Capital Partners LP bought a new stake in General Electric (NYSE:GE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 29,379 shares of the conglomerate's stock, valued at approximately $4,900,000. General Electric accounts for 4.8% of Elwood Capital Partners LP's investment portfolio, making the stock its 5th biggest position.

A number of other hedge funds have also modified their holdings of GE. New Age Alpha Advisors LLC raised its holdings in shares of General Electric by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate's stock valued at $25,000 after buying an additional 84 shares during the period. Hager Investment Management Services LLC purchased a new position in shares of General Electric in the fourth quarter valued at approximately $27,000. Sugar Maple Asset Management LLC purchased a new stake in General Electric during the 4th quarter worth approximately $29,000. CBIZ Investment Advisory Services LLC purchased a new position in General Electric in the 4th quarter valued at approximately $29,000. Finally, Picton Mahoney Asset Management increased its position in shares of General Electric by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate's stock worth $30,000 after acquiring an additional 68 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Down 8.7 %

Shares of GE stock traded down $16.26 during mid-day trading on Friday, hitting $171.37. 6,705,037 shares of the company's stock were exchanged, compared to its average volume of 5,321,017. The stock has a 50-day simple moving average of $202.16 and a two-hundred day simple moving average of $187.13. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a fifty-two week low of $146.78 and a fifty-two week high of $214.21. The stock has a market cap of $183.93 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates 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 expect 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. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GE shares. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company boosted their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Bank of America raised their price objective 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. Northcoast Research began coverage on General Electric in a report on Tuesday, January 7th. They set a "neutral" rating for the company. Finally, Citigroup raised their target price on General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of "Moderate Buy" and a consensus price target of $211.31.

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.