NEOS Investment Management LLC Acquires 9,682 Shares of General Electric (NYSE:GE)

NEOS Investment Management LLC lifted its holdings in shares of General Electric (NYSE:GE) by 17.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 64,511 shares of the conglomerate’s stock after purchasing an additional 9,682 shares during the period. NEOS Investment Management LLC’s holdings in General Electric were worth $10,760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. UniSuper Management Pty Ltd raised its position in General Electric by 32.4% in the 4th quarter. UniSuper Management Pty Ltd now owns 64,557 shares of the conglomerate’s stock worth $10,767,000 after purchasing an additional 15,788 shares during the last quarter. Moment Partners LLC acquired a new stake in shares of General Electric in the 4th quarter valued at $211,000. Sava Infond d.o.o. acquired a new stake in shares of General Electric in the 4th quarter valued at $2,470,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of General Electric by 9.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,719,443 shares of the conglomerate’s stock worth $295,675,000 after acquiring an additional 145,301 shares during the last quarter. Finally, Tyler Stone Wealth Management lifted its stake in shares of General Electric by 19.8% during the fourth quarter. Tyler Stone Wealth Management now owns 1,577 shares of the conglomerate’s stock valued at $263,000 after acquiring an additional 261 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on GE shares. JPMorgan Chase & Co. upped their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. UBS Group increased 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 initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Redburn Atlantic initiated coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Finally, Citigroup raised their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Price Performance

Shares of GE opened at $207.33 on Thursday. 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 firm has a market capitalization of $222.53 billion, a PE ratio of 34.61, a P/E/G ratio of 2.59 and a beta of 1.19. The stock has a 50 day simple moving average of $200.66 and a 200 day simple moving average of $185.98. General Electric has a 52-week low of $133.99 and a 52-week high of $214.21.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. Sell-side analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase 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 0.69%. General Electric’s dividend payout ratio (DPR) 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.