Longbow Finance SA Buys New Holdings in General Electric (NYSE:GE)

Longbow Finance SA bought a new stake in General Electric (NYSE:GE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 55,509 shares of the conglomerate’s stock, valued at approximately $9,258,000. General Electric comprises about 1.0% of Longbow Finance SA’s holdings, making the stock its 26th largest position.

A number of other large investors have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC boosted its position in General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares in the last quarter. Johnson & White Wealth Management LLC purchased a new stake in General Electric in the 4th quarter worth approximately $733,000. State Street Corp boosted its position in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC raised its stake in shares of General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after buying an additional 20,575 shares during the period. Finally, World Investment Advisors LLC raised its stake in shares of General Electric by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after buying an additional 5,162 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several research analyst reports. Redburn Atlantic initiated coverage on General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. UBS Group upped 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. Citigroup upped their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Down 0.6 %

Shares of GE opened at $198.68 on Tuesday. General Electric has a 52-week low of $122.48 and a 52-week high of $212.19. The company has a market capitalization of $213.24 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. The stock has a fifty day simple moving average of $187.23 and a two-hundred day simple moving average of $181.22. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. As a group, equities analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. General Electric’s dividend payout ratio is currently 24.04%.

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.