Elwood Capital Partners LP Acquires Shares of 29,379 General Electric (NYSE:GE)

Elwood Capital Partners LP bought a new position in shares of General Electric (NYSE:GE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 29,379 shares of the conglomerate’s stock, valued at approximately $4,900,000. General Electric accounts for 4.8% of Elwood Capital Partners LP’s investment portfolio, making the stock its 5th largest position.

A number of other large investors have also recently made changes to their positions in the business. Truvestments Capital LLC increased its holdings in 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 last quarter. Ballast Advisors LLC grew its position in shares of General Electric by 2.5% during the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after purchasing an additional 51 shares in the last quarter. Blue Barn Wealth LLC lifted its position in shares of General Electric by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after buying an additional 54 shares in the last quarter. Game Plan Financial Advisors LLC lifted its position in shares of General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after buying an additional 55 shares in the last quarter. Finally, Red Door Wealth Management LLC grew its holdings in General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after buying an additional 56 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Up 0.2 %

NYSE:GE opened at $200.29 on Tuesday. The company has a market cap of $214.97 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth 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 $214.21. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a fifty day simple moving average of $201.87 and a 200-day simple moving average of $186.85.

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

General Electric Increases Dividend

The company also recently disclosed 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 is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GE. Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company increased their price objective 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. UBS Group lifted their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Bank of America increased their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.