Ascent Capital Management LLC Acquires New Position in General Electric (NYSE:GE)

Ascent Capital Management LLC bought a new position in General Electric (NYSE:GE) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,189 shares of the conglomerate’s stock, valued at approximately $365,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avalon Trust Co boosted its position in shares of General Electric by 604.6% during the fourth quarter. Avalon Trust Co now owns 458 shares of the conglomerate’s stock valued at $76,000 after buying an additional 393 shares during the last quarter. CBIZ Investment Advisory Services LLC purchased a new stake in shares of General Electric during the 4th quarter valued at about $29,000. one8zero8 LLC bought a new stake in shares of General Electric in the fourth quarter worth approximately $240,000. Choate Investment Advisors raised its holdings in shares of General Electric by 2.3% during the fourth quarter. Choate Investment Advisors now owns 16,054 shares of the conglomerate’s stock valued at $2,678,000 after purchasing an additional 355 shares during the last quarter. Finally, Diversified Enterprises LLC lifted its position in General Electric by 8.3% during the fourth quarter. Diversified Enterprises LLC now owns 1,825 shares of the conglomerate’s stock valued at $304,000 after purchasing an additional 140 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of NYSE GE opened at $197.39 on Friday. The stock has a market cap of $211.85 billion, a PE ratio of 32.95, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 1 year low of $131.91 and a 1 year high of $212.19. The firm has a fifty day moving average price of $195.54 and a 200-day moving average price of $183.91. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping 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 anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared 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. The ex-dividend date is Monday, March 10th. 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 yield of 0.73%. General Electric’s payout ratio is currently 24.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Northcoast Research assumed coverage on General Electric in a research report 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 company an “overweight” rating in a research report on Friday, January 24th. Finally, Bank of America raised their price objective 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. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric 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.