Pelham Capital Ltd. Has $20.82 Million Position in General Electric (NYSE:GE)

Pelham Capital Ltd. cut its stake in General Electric (NYSE:GE - Free Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 124,832 shares of the conglomerate's stock after selling 4,154 shares during the quarter. General Electric comprises about 12.2% of Pelham Capital Ltd.'s portfolio, making the stock its 2nd biggest position. Pelham Capital Ltd.'s holdings in General Electric were worth $20,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Toth Financial Advisory Corp acquired a new position in General Electric during the third quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new position in shares of General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric in the third quarter worth about $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric during the third quarter worth about $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in General Electric during the third quarter valued at approximately $30,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GE shares. Bank of America raised their price objective 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. Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group upped their price objective 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. Deutsche Bank Aktiengesellschaft cut their price target 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. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, General Electric presently has an average rating of "Moderate Buy" and an average target price of $208.73.

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General Electric Stock Performance

Shares of GE stock traded up $0.89 during mid-day trading on Wednesday, hitting $209.71. The stock had a trading volume of 4,593,175 shares, compared to its average volume of 5,741,685. General Electric has a fifty-two week low of $110.95 and a fifty-two week high of $211.42. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company's 50-day simple moving average is $180.75 and its 200-day simple moving average is $178.56. The firm has a market cap of $225.08 billion, a PE ratio of 35.01, a PEG ratio of 2.56 and a beta of 1.22.

General Electric (NYSE:GE - Get Free Report) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (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%. Sell-side analysts anticipate that General Electric will post 5.39 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, December 27th. General Electric's dividend payout ratio is presently 18.70%.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company's stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company's stock.

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.