Bornite Capital Management LP Has $35.43 Million Stake in General Electric (NYSE:GE)

Bornite Capital Management LP grew its holdings in shares of General Electric (NYSE:GE) by 149.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 212,400 shares of the conglomerate’s stock after acquiring an additional 127,400 shares during the quarter. General Electric accounts for approximately 4.8% of Bornite Capital Management LP’s holdings, making the stock its 5th biggest holding. Bornite Capital Management LP’s holdings in General Electric were worth $35,426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Age Alpha Advisors LLC raised its holdings in General Electric by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 84 shares in the last quarter. Hager Investment Management Services LLC bought a new position in General Electric in the fourth quarter worth about $27,000. Sugar Maple Asset Management LLC purchased a new stake in General Electric in the fourth quarter worth about $29,000. CBIZ Investment Advisory Services LLC bought a new stake in General Electric during the 4th quarter valued at approximately $29,000. Finally, Picton Mahoney Asset Management boosted its holdings in shares of General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock valued at $30,000 after buying an additional 68 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Trading Down 6.2 %

GE stock opened at $187.30 on Friday. The company has a market capitalization of $201.03 billion, a PE ratio of 31.27, a P/E/G ratio of 2.59 and a beta of 1.19. The firm’s 50-day moving average is $202.16 and its 200 day moving average is $187.13. General Electric has a 12 month low of $146.21 and a 12 month 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 posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates 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 EPS for the current 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 boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. UBS Group increased their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Redburn Atlantic started coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Finally, Citigroup raised 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. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

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.