GAMMA Investing LLC Takes Position in General Electric (NYSE:GE)

GAMMA Investing LLC bought a new stake in General Electric (NYSE:GE) in the 4th quarter, Holdings Channel reports. The fund bought 11,953 shares of the conglomerate’s stock, valued at approximately $1,583,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Halpern Financial Inc. boosted its stake in shares of General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 184 shares during the period. Criterion Capital Advisors LLC purchased a new position in shares of General Electric in the fourth quarter valued at $27,000. CGC Financial Services LLC raised its holdings in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 110 shares in the last quarter. Capital Analysts LLC raised its holdings in General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 87 shares in the last quarter. Finally, Macroview Investment Management LLC raised its holdings in General Electric by 43.4% in the third quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 96 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GE. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Wells Fargo & Company cut their price target on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. StockNews.com began coverage on shares of General Electric in a report on Sunday. They issued a “hold” rating on the stock. Finally, Vertical Research started coverage on shares of General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price target on the stock. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $160.07.

General Electric Stock Performance

NYSE:GE traded up $12.43 during mid-day trading on Tuesday, hitting $162.62. The stock had a trading volume of 18,843,017 shares, compared to its average volume of 8,137,180. The stock has a market capitalization of $177.79 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 2.92 and a beta of 1.29. The company has a 50 day simple moving average of $159.52 and a 200-day simple moving average of $135.03. General Electric has a 52 week low of $76.87 and a 52 week high of $163.65. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. General Electric’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. On average, research analysts expect that General Electric will post 3.76 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be given a $0.28 dividend. The ex-dividend date is Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio (DPR) is currently 13.38%.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

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.