Glaxis Capital Management LLC Makes New Investment in General Electric (NYSE:GE)

Glaxis Capital Management LLC purchased a new position in General Electric (NYSE:GE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,400 shares of the conglomerate’s stock, valued at approximately $2,402,000. General Electric accounts for approximately 6.6% of Glaxis Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GE. Blue Barn Wealth LLC lifted its holdings in shares of General Electric by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after purchasing an additional 54 shares during the period. Game Plan Financial Advisors LLC lifted its holdings in shares of General Electric by 10.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after purchasing an additional 55 shares during the period. Red Door Wealth Management LLC lifted its holdings in shares of General Electric by 4.0% during the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 56 shares during the period. WR Wealth Planners LLC raised its position in General Electric by 30.6% during the fourth quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 56 shares in the last quarter. Finally, Saxon Interests Inc. raised its position in General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after acquiring an additional 57 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on GE. Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Wells Fargo & Company lifted their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Citigroup lifted their price target on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic began coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Finally, UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Down 0.1 %

Shares of GE opened at $191.89 on Wednesday. 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 has a one year low of $131.14 and a one year high of $212.19. The stock has a market capitalization of $205.95 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.59 and a beta of 1.19. The stock has a 50 day moving average price of $193.99 and a 200 day moving average price of $183.50.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Equities research analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.75%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is 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.