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

Picton Mahoney Asset Management lifted its holdings in General Electric (NYSE:GE) by 62.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 177 shares of the conglomerate’s stock after buying an additional 68 shares during the quarter. Picton Mahoney Asset Management’s holdings in General Electric were worth $30,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Hager Investment Management Services LLC acquired a new stake in shares of General Electric in the 4th quarter worth about $27,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric in the 4th quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of General Electric in the 3rd quarter worth about $30,000. Parkworth Wealth Management Inc. acquired a new stake in shares of General Electric in the 4th quarter worth about $31,000. Finally, Truvestments Capital LLC acquired a new stake in shares of General Electric in the 3rd quarter worth about $35,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GE. UBS Group increased their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Bank of America raised their target price 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 started coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Finally, Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Performance

General Electric stock opened at $202.23 on Tuesday. The firm’s 50 day simple moving average is $196.14 and its 200-day simple moving average is $184.20. The company has a market cap of $217.06 billion, a P/E ratio of 33.76, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a fifty-two week low of $133.99 and a fifty-two week high of $212.19.

General Electric (NYSE:GE) last released its 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 predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

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