General Electric (NYSE:GE) Shares Acquired by Payden & Rygel

Payden & Rygel grew its stake in shares of General Electric (NYSE:GE - Free Report) by 102.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,800 shares of the conglomerate's stock after acquiring an additional 65,600 shares during the quarter. General Electric comprises about 1.9% of Payden & Rygel's holdings, making the stock its 13th largest position. Payden & Rygel's holdings in General Electric were worth $21,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. New Age Alpha Advisors LLC raised its holdings in General Electric by 133.3% in the fourth 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 acquired a new stake in shares of General Electric in the fourth quarter worth $27,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric in the fourth quarter worth $29,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of General Electric in the 4th quarter valued at $29,000. Finally, Picton Mahoney Asset Management lifted 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. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of GE traded up $2.12 during mid-day trading on Wednesday, hitting $171.49. The stock had a trading volume of 3,577,409 shares, compared to its average volume of 5,455,279. General Electric has a fifty-two week low of $146.78 and a fifty-two week high of $214.21. 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 company has a market cap of $184.05 billion, a PE ratio of 28.75, a PEG ratio of 2.59 and a beta of 1.04. The company's fifty day simple moving average is $199.92 and its two-hundred day simple moving average is $186.71.

General Electric (NYSE:GE - Get Free Report) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, equities analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. This is a boost from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.84%. The ex-dividend date is Monday, March 10th. General Electric's dividend payout ratio (DPR) is currently 24.04%.

Analyst Upgrades and Downgrades

Several research firms have commented on GE. Citigroup raised their price objective on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, January 27th. UBS Group raised their target price on General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a report on Friday, January 24th. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company reduced their target price on shares of General Electric from $250.00 to $203.00 and set an "overweight" rating on the stock in a research report on Tuesday. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, General Electric currently has an average rating of "Moderate Buy" and a consensus price target of $211.19.

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.