CenterBook Partners LP Purchases 2,526 Shares of General Electric (NYSE:GE)

CenterBook Partners LP boosted its holdings in General Electric (NYSE:GE) by 25.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Vanguard Group Inc. boosted its stake in shares of General Electric by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock worth $14,980,297,000 after purchasing an additional 410,172 shares during the period. FMR LLC lifted its stake in shares of General Electric by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the conglomerate’s stock valued at $11,145,570,000 after purchasing an additional 965,012 shares during the period. Geode Capital Management LLC increased its holdings in General Electric by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate’s stock worth $3,846,587,000 after acquiring an additional 529,457 shares in the last quarter. Norges Bank purchased a new position in shares of General Electric in the fourth quarter valued at approximately $2,375,439,000. Finally, Invesco Ltd. raised its holdings in General Electric by 14.4% in the 4th 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 last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Citigroup upped their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. UBS Group raised their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. raised their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $213.27.

General Electric Stock Performance

Shares of General Electric stock 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 firm has a market capitalization of $201.18 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 2.59 and a beta of 1.04. The business has a 50-day simple moving average of $199.23 and a 200 day simple moving average of $186.70. General Electric has a one year low of $146.78 and a one year high of $214.21.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. On average, research analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

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