Bornite Capital Management LP lifted its position in General Electric (NYSE:GE - Free Report) by 149.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 212,400 shares of the conglomerate's stock after acquiring an additional 127,400 shares during the quarter. General Electric makes up about 4.8% of Bornite Capital Management LP's holdings, making the stock its 5th biggest holding. Bornite Capital Management LP's holdings in General Electric were worth $35,426,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC lifted its position in shares of General Electric by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate's stock worth $25,000 after purchasing an additional 84 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in General Electric in the 4th quarter valued at approximately $27,000. Sugar Maple Asset Management LLC purchased a new stake in General Electric in the 4th quarter worth approximately $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Electric during the 4th quarter valued at $29,000. Finally, Picton Mahoney Asset Management grew its holdings in shares of General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate's stock valued at $30,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on GE. Citigroup boosted their target price on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective on the stock. Bank of America lifted their target price on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.73.
Get Our Latest Research Report on General Electric
General Electric Price Performance
GE traded down $1.68 during midday trading on Monday, reaching $165.13. 9,421,645 shares of the company's stock were exchanged, compared to its average volume of 5,417,510. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $177.23 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. General Electric has a one year low of $146.78 and a one year high of $214.21. The business has a 50-day simple moving average of $201.56 and a two-hundred day simple moving average of $187.10.
General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. As a group, research analysts predict that General Electric will post 5.4 EPS for the current year.
General Electric Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. 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 annualized dividend and a dividend yield of 0.87%. General Electric's dividend payout ratio (DPR) 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.
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