General Electric (NYSE:GE) Shares Purchased by Otter Creek Advisors LLC

Otter Creek Advisors LLC lifted its position in General Electric (NYSE:GE) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,234 shares of the conglomerate’s stock after purchasing an additional 1,500 shares during the quarter. General Electric makes up 3.0% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Otter Creek Advisors LLC’s holdings in General Electric were worth $4,376,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GE. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the 3rd quarter worth about $25,000. Hager Investment Management Services LLC bought a new stake in General Electric in the fourth quarter worth approximately $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric in the third quarter worth about $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric during the 4th quarter worth approximately $29,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in General Electric in the third quarter valued at $30,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Redburn Atlantic started coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Bank of America raised their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of 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, Citigroup lifted their price target on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

Shares of GE opened at $201.56 on Thursday. The stock has a 50 day moving average price of $188.73 and a 200 day moving average price of $181.58. General Electric has a 52-week low of $122.48 and a 52-week high of $212.19. 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 capitalization of $216.34 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21.

General Electric (NYSE:GE) last released its quarterly 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%. Research analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed 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 represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 24.04%.

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.