Quantbot Technologies LP Takes $6.10 Million Position in General Electric (NYSE:GE)

Quantbot Technologies LP purchased a new position in shares of General Electric (NYSE:GE) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 36,540 shares of the conglomerate’s stock, valued at approximately $6,095,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GE. Millstone Evans Group LLC acquired a new stake in General Electric in the 4th quarter valued at about $868,000. 1620 Investment Advisors Inc. bought a new stake in shares of General Electric during the fourth quarter valued at approximately $58,000. Wayfinding Financial LLC acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $205,000. Truepoint Inc. raised its position in General Electric by 20.4% in the 4th quarter. Truepoint Inc. now owns 2,793 shares of the conglomerate’s stock worth $466,000 after purchasing an additional 473 shares during the last quarter. Finally, Ballast Advisors LLC lifted its holdings in General Electric by 2.5% during the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock worth $349,000 after buying an additional 51 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

NYSE GE opened at $192.28 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a market cap of $206.37 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 2.59 and a beta of 1.19. The business has a 50 day simple moving average of $195.04 and a 200 day simple moving average of $183.64. General Electric has a 52-week low of $131.91 and a 52-week high of $212.19.

General Electric (NYSE:GE) last issued its quarterly earnings data 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%. Analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm 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 dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.75%. General Electric’s dividend payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Redburn Atlantic initiated coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Bank of America raised their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, UBS Group lifted their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

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.