Los Angeles Capital Management LLC Increases Stock Position in General Electric (NYSE:GE)

Los Angeles Capital Management LLC lifted its position in shares of General Electric (NYSE:GE) by 33.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 165,509 shares of the conglomerate’s stock after buying an additional 41,521 shares during the period. Los Angeles Capital Management LLC’s holdings in General Electric were worth $27,605,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Game Plan Financial Advisors LLC increased its position 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 worth $96,000 after acquiring an additional 55 shares in the last quarter. Red Door Wealth Management LLC boosted its stake in General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after acquiring an additional 56 shares during the last quarter. Saxon Interests Inc. lifted its position in shares of General Electric by 4.2% in the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after buying an additional 57 shares during the last quarter. Old North State Wealth Management LLC lifted its position in shares of General Electric by 3.0% in the 4th quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock worth $331,000 after buying an additional 58 shares during the last quarter. Finally, Northeast Investment Management lifted its position in shares of General Electric by 2.2% in the 4th quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock worth $452,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of NYSE:GE opened at $199.20 on Wednesday. The stock has a market capitalization of $213.80 billion, a P/E ratio of 33.25, a P/E/G ratio of 2.59 and a beta of 1.21. General Electric has a 1-year low of $122.48 and a 1-year 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 business has a 50-day moving average price of $187.90 and a two-hundred day moving average price of $181.44.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 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%. Equities analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This is a boost 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 0.72%. General Electric’s dividend payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GE shares. Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Bank of America raised their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Citigroup raised their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, UBS Group raised their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, General Electric 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.