Pine Valley Investments Ltd Liability Co Boosts Holdings in General Electric (NYSE:GE)

Pine Valley Investments Ltd Liability Co increased its position in General Electric (NYSE:GE) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,256 shares of the conglomerate’s stock after purchasing an additional 1,390 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in General Electric were worth $3,545,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Geode Capital Management LLC lifted its position in General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after acquiring an additional 156,272 shares in the last quarter. Jennison Associates LLC boosted its stake in General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after purchasing an additional 106,891 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of General Electric by 6.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after purchasing an additional 413,388 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of General Electric by 12.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock worth $774,458,000 after purchasing an additional 457,038 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup increased 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. UBS Group boosted their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Northcoast Research started coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

NYSE:GE opened at $198.68 on Tuesday. 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 stock has a 50-day simple moving average of $187.23 and a two-hundred day simple moving average of $181.22. The firm has a market capitalization of $213.24 billion, a PE ratio of 33.17, a P/E/G ratio of 2.59 and a beta of 1.21. General Electric has a 52-week low of $122.48 and a 52-week high of $212.19.

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

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is presently 24.04%.

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.