CenterBook Partners LP Boosts Position in General Electric (NYSE:GE)

CenterBook Partners LP boosted its stake in shares of General Electric (NYSE:GE) by 25.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,315 shares of the conglomerate’s stock after purchasing an additional 2,526 shares during the quarter. CenterBook Partners LP’s holdings in General Electric were worth $2,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in GE. Norges Bank acquired a new position in shares of General Electric in the 4th quarter worth approximately $2,375,439,000. Invesco Ltd. boosted its holdings in shares of General Electric by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the conglomerate’s stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares during the period. Raymond James Financial Inc. acquired a new position in shares of General Electric in the fourth quarter valued at approximately $194,208,000. Franklin Resources Inc. boosted its holdings in General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after purchasing an additional 973,135 shares in the last quarter. Finally, FMR LLC grew its stake in shares of General Electric by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the conglomerate’s stock worth $11,145,570,000 after purchasing an additional 965,012 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GE. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their target price on General Electric from $250.00 to $203.00 and set an “overweight” rating on the stock in a research report on Tuesday. Northcoast Research raised General Electric from a “neutral” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Wednesday. Finally, 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 report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.27.

General Electric Stock Up 10.7 %

Shares of GE opened at $187.44 on Thursday. 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 business’s 50 day simple moving average is $199.23 and its 200-day simple moving average is $186.70. General Electric has a one year low of $146.78 and a one year high of $214.21. The company has a market capitalization of $201.18 billion, a P/E ratio of 31.29, a PEG ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE) last posted its 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%. As a group, sell-side analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.77%. General Electric’s payout ratio is 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.