General Electric (NYSE:GE) Stock Position Lifted by Picton Mahoney Asset Management

Picton Mahoney Asset Management boosted its stake in shares of General Electric (NYSE:GE) by 62.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 177 shares of the conglomerate’s stock after acquiring an additional 68 shares during the period. Picton Mahoney Asset Management’s holdings in General Electric were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Truvestments Capital LLC raised its position in shares of General Electric by 26.2% in the 4th quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 49 shares during the period. Blue Barn Wealth LLC raised its position in shares of General Electric by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after acquiring an additional 54 shares during the period. Game Plan Financial Advisors LLC raised its position in shares of General Electric by 10.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock valued at $96,000 after acquiring an additional 55 shares during the period. Red Door Wealth Management LLC raised its position in shares of General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after acquiring an additional 56 shares during the period. Finally, WR Wealth Planners LLC raised its position in shares of General Electric by 30.6% in the 4th quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 56 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

Shares of GE opened at $202.23 on Tuesday. The stock has a market capitalization of $217.06 billion, a P/E ratio of 33.76, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a twelve month low of $133.99 and a twelve month high of $212.19. The company has a 50 day moving average of $196.14 and a 200-day moving average of $184.20. 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 quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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%. As a group, equities research analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.71%. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Wall Street Analyst Weigh In

GE has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Wells Fargo & Company raised their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Bank of America raised their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Citigroup raised their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.