Blueshift Asset Management LLC Purchases New Position in General Electric (NYSE:GE)

Blueshift Asset Management LLC acquired a new position in shares of General Electric (NYSE:GE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,082 shares of the conglomerate’s stock, valued at approximately $347,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Johnson & White Wealth Management LLC purchased a new stake in General Electric during the 4th quarter worth $733,000. Chung Wu Investment Group LLC acquired a new position in shares of General Electric in the fourth quarter worth about $795,000. State Street Corp boosted its holdings in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Soltis Investment Advisors LLC grew its stake in General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after purchasing an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC increased its holdings in General Electric by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after purchasing an additional 5,162 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE opened at $203.99 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market capitalization of $218.94 billion, a PE ratio of 34.06, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 1-year low of $133.99 and a 1-year high of $212.19. The business’s fifty day moving average price is $198.63 and its two-hundred day moving average price is $184.87.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. On average, research analysts expect that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 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%. General Electric’s payout ratio is currently 24.04%.

Analysts Set New Price Targets

Several research firms have recently commented on GE. Citigroup increased their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Bank of America boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

About General Electric

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.