Glaxis Capital Management LLC Acquires Shares of 14,400 General Electric (NYSE:GE)

Glaxis Capital Management LLC acquired a new stake in shares of General Electric (NYSE:GE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 14,400 shares of the conglomerate’s stock, valued at approximately $2,402,000. General Electric accounts for about 6.6% of Glaxis Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in GE. Atria Investments Inc boosted its holdings in shares of General Electric by 15.7% during the 3rd quarter. Atria Investments Inc now owns 23,407 shares of the conglomerate’s stock valued at $4,414,000 after buying an additional 3,179 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in General Electric by 41.8% in the 3rd quarter. Axxcess Wealth Management LLC now owns 12,443 shares of the conglomerate’s stock worth $2,347,000 after purchasing an additional 3,671 shares in the last quarter. Legacy Capital Wealth Partners LLC bought a new position in General Electric in the 3rd quarter worth about $210,000. Tyler Stone Wealth Management boosted its stake in General Electric by 116.8% in the 3rd quarter. Tyler Stone Wealth Management now owns 1,316 shares of the conglomerate’s stock worth $248,000 after purchasing an additional 709 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in General Electric in the 3rd quarter worth about $165,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on GE. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. upped their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. UBS Group boosted their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Bank of America boosted their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Price Performance

NYSE GE opened at $191.89 on Wednesday. General Electric has a 52 week low of $131.14 and a 52 week high of $212.19. The firm has a market capitalization of $205.95 billion, a P/E ratio of 32.03, a PEG ratio of 2.59 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average price of $193.99 and a 200-day moving average price of $183.50.

General Electric (NYSE:GE) last released its 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 net margin of 14.31% and a return on equity of 22.19%. Equities research analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.75%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is currently 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.