Pine Valley Investments Ltd Liability Co grew its position in General Electric (NYSE:GE - Free Report) by 7.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,256 shares of the conglomerate's stock after buying an additional 1,390 shares during the period. Pine Valley Investments Ltd Liability Co's holdings in General Electric were worth $3,545,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. raised its stake in General Electric by 69.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,357 shares of the conglomerate's stock valued at $822,000 after buying an additional 1,790 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in General Electric by 0.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 30,671 shares of the conglomerate's stock worth $5,784,000 after purchasing an additional 209 shares in the last quarter. Arkadios Wealth Advisors increased its stake in General Electric by 2.4% during the 3rd quarter. Arkadios Wealth Advisors now owns 6,023 shares of the conglomerate's stock valued at $1,136,000 after purchasing an additional 140 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of General Electric by 65.9% in the third quarter. NorthCrest Asset Manangement LLC now owns 2,089 shares of the conglomerate's stock worth $394,000 after buying an additional 830 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in shares of General Electric by 9.3% during the third quarter. GHP Investment Advisors Inc. now owns 1,275 shares of the conglomerate's stock valued at $240,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.
General Electric Price Performance
Shares of NYSE:GE traded up $5.79 during midday trading on Friday, reaching $207.22. 6,116,408 shares of the company's stock traded hands, compared to its average volume of 5,268,165. The company has a fifty day simple moving average of $189.46 and a two-hundred day simple moving average of $181.72. General Electric has a 1 year low of $124.08 and a 1 year high of $212.19. The company has a market cap of $222.40 billion, a P/E ratio of 34.59, a PEG ratio of 2.59 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.
General Electric (NYSE:GE - Get Free Report) last announced its earnings results 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 net margin of 14.31% and a return on equity of 22.19%. Equities analysts predict that General Electric will post 5.4 EPS for the current fiscal year.
General Electric Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is an increase from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio (DPR) is 24.04%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on GE. UBS Group raised their target price on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. increased their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" 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. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $211.31.
Get Our Latest Research Report on GE
General Electric Profile
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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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