Canopy Partners LLC Purchases 466 Shares of General Electric (NYSE:GE)

Canopy Partners LLC increased its position in shares of General Electric (NYSE:GE) by 24.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,384 shares of the conglomerate’s stock after purchasing an additional 466 shares during the quarter. Canopy Partners LLC’s holdings in General Electric were worth $398,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC grew its position in General Electric by 133.3% in the 4th 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 position in General Electric in the 4th quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in General Electric in the 4th quarter valued at about $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Electric during the fourth quarter worth approximately $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in shares of General Electric in the fourth quarter valued at approximately $29,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Trading Down 11.1 %

NYSE GE opened at $166.76 on Monday. General Electric has a 12-month low of $146.78 and a 12-month high of $214.21. The company has a fifty day simple moving average of $201.56 and a two-hundred day simple moving average of $187.10. 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 $178.98 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE) last issued its 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%. On average, analysts forecast 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 given a $0.36 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.86%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 24.04%.

Analysts Set New Price Targets

GE has been the subject of a number of research analyst reports. Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Redburn Atlantic began coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.73.

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.