Bornite Capital Management LP Boosts Stake in General Electric (NYSE:GE)

Bornite Capital Management LP increased its stake in shares of General Electric (NYSE:GE - Free Report) by 149.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,400 shares of the conglomerate's stock after acquiring an additional 127,400 shares during the quarter. General Electric makes up 4.8% of Bornite Capital Management LP's investment portfolio, making the stock its 5th largest position. Bornite Capital Management LP's holdings in General Electric were worth $35,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of General Electric by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate's stock valued at $14,980,297,000 after acquiring an additional 410,172 shares during the period. 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 valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. Geode Capital Management LLC raised its position in General Electric by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate's stock valued at $3,846,587,000 after purchasing an additional 529,457 shares during the last quarter. Norges Bank bought a new stake in shares of General Electric in the 4th quarter worth approximately $2,375,439,000. Finally, Jennison Associates LLC increased its stake in shares of General Electric by 1.4% during the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock valued at $1,314,080,000 after buying an additional 106,891 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

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General Electric Stock Down 11.1 %

GE traded down $20.87 during trading on Friday, hitting $166.76. 18,160,091 shares of the company's stock traded hands, compared to its average volume of 5,437,472. The stock has a market capitalization of $178.98 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.59 and a beta of 1.04. The company's 50 day simple moving average is $201.56 and its two-hundred day simple moving average is $187.02. General Electric has a 12-month low of $146.78 and a 12-month high of $214.21. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts predict that General Electric will post 5.4 earnings per share 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. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This is an increase 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 yield of 0.86%. General Electric's dividend payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Redburn Atlantic assumed coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. Bank of America increased their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. UBS Group upped their target price on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $214.73.

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.