General Electric (NYSE:GE) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in shares of General Electric (NYSE:GE) by 39.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 555,800 shares of the conglomerate’s stock after buying an additional 158,389 shares during the quarter. Renaissance Technologies LLC owned approximately 0.05% of General Electric worth $92,702,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Truvestments Capital LLC boosted its stake in General Electric by 26.2% in the 4th quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock worth $39,000 after buying an additional 49 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of General Electric by 17.6% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate’s stock valued at $56,000 after acquiring an additional 50 shares during the last quarter. Ballast Advisors LLC lifted its holdings in shares of 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 acquiring an additional 51 shares during the period. Blue Barn Wealth LLC boosted its position in shares of General Electric by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after acquiring an additional 54 shares during the last quarter. Finally, Game Plan Financial Advisors LLC grew its holdings in General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock valued at $96,000 after purchasing an additional 55 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of GE stock opened at $169.05 on Wednesday. The company’s fifty day moving average price is $199.92 and its two-hundred day moving average price is $186.71. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market capitalization of $181.44 billion, a P/E ratio of 28.22, a P/E/G ratio of 2.59 and a beta of 1.04. General Electric has a 12 month low of $146.78 and a 12 month high of $214.21.

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

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. 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. Bank of America boosted their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Citigroup boosted their target price on General Electric from $216.00 to $235.00 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 fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.60.

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.