Biltmore Family Office LLC Grows Position in General Electric (NYSE:GE)

Biltmore Family Office LLC boosted its stake in General Electric (NYSE:GE) by 13.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,377 shares of the conglomerate’s stock after purchasing an additional 165 shares during the quarter. Biltmore Family Office LLC’s holdings in General Electric were worth $230,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. New Age Alpha Advisors LLC increased its position in General Electric by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 84 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of General Electric during the 4th quarter valued at about $27,000. Sugar Maple Asset Management LLC bought a new position in shares of General Electric in the 4th quarter worth approximately $29,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of General Electric in the fourth quarter worth approximately $29,000. Finally, Picton Mahoney Asset Management grew its position in General Electric by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock valued at $30,000 after buying an additional 68 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GE has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. upped their target price 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. Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Trading Down 2.0 %

Shares of GE opened at $199.80 on Thursday. The stock has a 50 day simple moving average of $202.43 and a 200-day simple moving average of $187.12. 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 stock has a market cap of $214.44 billion, a PE ratio of 33.36, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a 1 year low of $138.01 and a 1 year high of $214.21.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 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%. On average, sell-side analysts predict that General Electric will post 5.4 EPS 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. Stockholders of record on Monday, March 10th will be issued a $0.36 dividend. This is a positive change 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 dividend yield of 0.72%. General Electric’s payout ratio is 24.04%.

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.