Longbow Finance SA Invests $9.26 Million in General Electric (NYSE:GE)

Longbow Finance SA bought a new stake in shares of General Electric (NYSE:GE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 55,509 shares of the conglomerate’s stock, valued at approximately $9,258,000. General Electric accounts for 1.0% of Longbow Finance SA’s portfolio, making the stock its 26th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Game Plan Financial Advisors LLC grew its stake in shares of General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock valued at $96,000 after buying an additional 55 shares in the last quarter. Red Door Wealth Management LLC grew its stake in shares of General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after buying an additional 56 shares in the last quarter. Saxon Interests Inc. grew its stake in shares of General Electric by 4.2% in the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after buying an additional 57 shares in the last quarter. Old North State Wealth Management LLC grew its stake in shares of General Electric by 3.0% in the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after buying an additional 58 shares in the last quarter. Finally, Northeast Investment Management grew its stake in shares of General Electric by 2.2% in the fourth quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock valued at $452,000 after buying an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 0.6 %

Shares of NYSE GE opened at $198.68 on Tuesday. The company has a market cap of $213.24 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. General Electric has a 12-month low of $122.48 and a 12-month high of $212.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock’s 50 day simple moving average is $187.23 and its 200 day simple moving average is $181.22.

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

General Electric Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GE shares. Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Finally, Wells Fargo & Company raised their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $211.31.

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.