Renaissance Technologies LLC grew its position in General Electric (NYSE:GE - Free Report) by 39.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 555,800 shares of the conglomerate's stock after purchasing an additional 158,389 shares during the quarter. Renaissance Technologies LLC owned approximately 0.05% of General Electric worth $92,702,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Truvestments Capital LLC boosted its position in shares of General Electric by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate's stock valued at $39,000 after acquiring an additional 49 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its stake in General Electric by 17.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate's stock worth $56,000 after purchasing an additional 50 shares in the last quarter. Ballast Advisors LLC boosted its holdings in General Electric by 2.5% in the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate's stock valued at $349,000 after purchasing an additional 51 shares during the period. Blue Barn Wealth LLC boosted its holdings in General Electric by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate's stock valued at $245,000 after purchasing an additional 54 shares during the period. Finally, Game Plan Financial Advisors LLC grew its position in shares of General Electric by 10.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate's stock worth $96,000 after purchasing an additional 55 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on GE. Wells Fargo & Company cut their price target on General Electric from $250.00 to $203.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft decreased 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Northcoast Research raised shares of General Electric from a "neutral" rating to a "buy" rating and set a $205.00 target price on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $212.73.
Get Our Latest Analysis on GE
General Electric Price Performance
Shares of GE traded up $0.09 during trading hours on Friday, reaching $181.60. The stock had a trading volume of 6,490,484 shares, compared to its average volume of 5,473,118. The stock has a market capitalization of $194.91 billion, a PE ratio of 30.32, a PEG ratio of 2.59 and a beta of 1.04. General Electric has a 12 month low of $146.78 and a 12 month high of $214.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company's 50-day moving average is $198.36 and its two-hundred day moving average is $186.61.
General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect that General Electric will post 5.4 EPS for the current year.
General Electric Increases Dividend
The business also recently declared 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 boost 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 0.79%. General Electric's dividend 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.
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