Andra AP fonden Buys New Position in General Electric (NYSE:GE)

Andra AP fonden purchased a new position in General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 48,800 shares of the conglomerate’s stock, valued at approximately $8,139,000.

Other institutional investors have also recently made changes to their positions in the company. Edgestream Partners L.P. bought a new position in General Electric in the fourth quarter valued at $1,387,000. Blue Bell Private Wealth Management LLC boosted its holdings in shares of General Electric by 3.1% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,569 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 77 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of General Electric by 16.7% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,267 shares of the conglomerate’s stock worth $713,000 after purchasing an additional 612 shares in the last quarter. Callan Family Office LLC increased its position in shares of General Electric by 1,430.3% during the 4th quarter. Callan Family Office LLC now owns 17,063 shares of the conglomerate’s stock valued at $2,846,000 after purchasing an additional 15,948 shares during the last quarter. Finally, Chatham Capital Group Inc. raised its holdings in shares of General Electric by 4.0% during the 4th quarter. Chatham Capital Group Inc. now owns 24,758 shares of the conglomerate’s stock valued at $4,129,000 after buying an additional 960 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 1.0 %

Shares of NYSE GE opened at $194.08 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 12 month low of $130.38 and a 12 month high of $212.19. The firm has a market capitalization of $208.31 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The firm has a fifty day simple moving average of $193.02 and a two-hundred day simple moving average of $183.11.

General Electric (NYSE:GE) last announced its quarterly 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 expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.74%. General Electric’s payout ratio is currently 24.04%.

Wall Street Analyst Weigh In

A number of research analysts have commented on GE shares. Wells Fargo & Company increased their price target on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Bank of America upped their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Redburn Atlantic began coverage on shares of General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. UBS Group upped their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

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.