Farringdon Capital Ltd. Takes $371,000 Position in General Electric (NYSE:GE)

Farringdon Capital Ltd. bought a new position in General Electric (NYSE:GE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,227 shares of the conglomerate’s stock, valued at approximately $371,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in General Electric during the third quarter valued at $3,400,000. Westside Investment Management Inc. grew its stake in shares of General Electric by 6.0% in the 3rd quarter. Westside Investment Management Inc. now owns 1,245 shares of the conglomerate’s stock valued at $235,000 after buying an additional 70 shares in the last quarter. Diamant Asset Management Inc. increased its holdings in General Electric by 2.7% in the third quarter. Diamant Asset Management Inc. now owns 6,098 shares of the conglomerate’s stock worth $1,150,000 after buying an additional 158 shares during the last quarter. Morse Asset Management Inc raised its position in General Electric by 30.2% during the third quarter. Morse Asset Management Inc now owns 18,616 shares of the conglomerate’s stock valued at $3,511,000 after acquiring an additional 4,320 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its position in General Electric by 1.9% in the third quarter. SkyView Investment Advisors LLC now owns 12,240 shares of the conglomerate’s stock worth $2,308,000 after acquiring an additional 232 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GE. Redburn Atlantic assumed coverage on General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Citigroup cut their target price on shares of General Electric from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company boosted their price objective on General Electric from $203.00 to $212.00 and gave the stock an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $213.33.

General Electric Trading Down 0.3 %

NYSE:GE opened at $181.88 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $146.78 and a twelve month high of $214.21. The company has a market cap of $195.21 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The business has a 50 day moving average price of $196.12 and a two-hundred day moving average price of $186.50.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts expect 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. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.79%. General Electric’s dividend payout ratio is 24.04%.

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.