Bristol Gate Capital Partners Inc. Purchases 310 Shares of General Electric (NYSE:GE)

Bristol Gate Capital Partners Inc. raised its position in shares of General Electric (NYSE:GE) by 0.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 564,897 shares of the conglomerate’s stock after buying an additional 310 shares during the quarter. General Electric accounts for about 4.6% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 10th biggest position. Bristol Gate Capital Partners Inc.’s holdings in General Electric were worth $94,219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GE. New Age Alpha Advisors LLC increased its holdings in General Electric by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 84 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in shares of General Electric during the fourth quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of General Electric in the fourth quarter valued at approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Electric in the fourth quarter valued at about $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new stake in General Electric in the 4th quarter worth about $29,000. 74.77% of the stock is owned by institutional investors.

General Electric Price Performance

NYSE GE opened at $166.76 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The business’s fifty day moving average is $201.56 and its 200 day moving average is $187.10. The company has a market capitalization of $178.98 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. General Electric has a fifty-two week low of $146.78 and a fifty-two week high of $214.21.

General Electric (NYSE:GE) last announced 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%. Sell-side analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a $0.36 dividend. The ex-dividend date is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.86%. General Electric’s dividend payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

GE has been the subject of several research analyst reports. Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Redburn Atlantic began coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Citigroup boosted their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, 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 report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $214.73.

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.