Arrowstreet Capital Limited Partnership Purchases 114,764 Shares of General Electric (NYSE:GE)

Arrowstreet Capital Limited Partnership boosted its position in General Electric (NYSE:GE) by 298.8% in the 4th quarter, Holdings Channel reports. The firm owned 153,178 shares of the conglomerate’s stock after buying an additional 114,764 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in General Electric were worth $25,549,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Erste Asset Management GmbH bought a new position in shares of General Electric in the third quarter worth about $53,000. Paloma Partners Management Co bought a new position in General Electric in the 3rd quarter worth about $270,000. Benjamin Edwards Inc. increased its position in shares of General Electric by 1,025.1% during the third quarter. Benjamin Edwards Inc. now owns 15,403 shares of the conglomerate’s stock worth $2,905,000 after acquiring an additional 14,034 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of General Electric by 589.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 68,026 shares of the conglomerate’s stock valued at $12,828,000 after acquiring an additional 58,156 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its holdings in shares of General Electric by 5.8% in the third quarter. IHT Wealth Management LLC now owns 11,610 shares of the conglomerate’s stock valued at $2,187,000 after purchasing an additional 640 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 6.2 %

NYSE:GE opened at $187.30 on Friday. The firm has a market capitalization of $201.03 billion, a P/E ratio of 31.27, a PEG ratio of 2.59 and a beta of 1.19. The company’s fifty day moving average price is $202.16 and its 200-day moving average price is $187.13. General Electric has a 1-year low of $146.21 and a 1-year high of $214.21. 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 announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, equities research analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders 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 dividend yield of 0.77%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 24.04%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Bank of America increased their target price 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. JPMorgan Chase & Co. upped their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

About General Electric

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.