GAMMA Investing LLC Acquires Shares of 11,953 General Electric (NYSE:GE)

GAMMA Investing LLC acquired a new stake in General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,953 shares of the conglomerate’s stock, valued at approximately $1,583,000.

Other hedge funds also recently bought and sold shares of the company. WCM Investment Management LLC purchased a new stake in shares of General Electric in the 4th quarter valued at approximately $520,488,000. Brown Advisory Inc. grew its stake in shares of General Electric by 265.7% in the 3rd quarter. Brown Advisory Inc. now owns 3,008,425 shares of the conglomerate’s stock valued at $332,581,000 after buying an additional 2,185,793 shares during the period. International Assets Investment Management LLC grew its stake in shares of General Electric by 11,947.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock valued at $201,218,000 after buying an additional 1,563,484 shares during the period. Carmignac Gestion purchased a new position in shares of General Electric during the 3rd quarter worth approximately $133,581,000. Finally, AQR Capital Management LLC boosted its position in shares of General Electric by 358.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,456,673 shares of the conglomerate’s stock worth $161,035,000 after purchasing an additional 1,138,896 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GE. Wells Fargo & Company lowered their price objective on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Oppenheimer reissued a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. JPMorgan Chase & Co. decreased their price target on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target of $160.07.

General Electric Stock Up 8.3 %

NYSE:GE traded up $12.43 during midday trading on Tuesday, hitting $162.62. 18,843,017 shares of the company were exchanged, compared to its average volume of 8,137,180. The company has a fifty day simple moving average of $159.52 and a 200 day simple moving average of $135.03. General Electric has a fifty-two week low of $76.87 and a fifty-two week high of $163.65. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $177.79 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.92 and a beta of 1.29.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period last year, the business earned $0.27 EPS. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that General Electric will post 3.76 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be given a dividend of $0.28 per share. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, April 12th. General Electric’s dividend payout ratio (DPR) is presently 13.38%.

Insiders Place Their Bets

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

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.