Cambridge Financial Group Inc. Takes Position in General Electric (NYSE:GE)

Cambridge Financial Group Inc. acquired a new position in shares of General Electric (NYSE:GE) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 36,840 shares of the conglomerate’s stock, valued at approximately $6,145,000. General Electric makes up approximately 2.5% of Cambridge Financial Group Inc.’s portfolio, making the stock its 28th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC increased its stake in shares of 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 acquiring an additional 84 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in General Electric during the fourth quarter worth about $27,000. Sugar Maple Asset Management LLC purchased a new position in General Electric during the fourth quarter worth about $29,000. CBIZ Investment Advisory Services LLC acquired a new position in General Electric in the 4th quarter valued at about $29,000. Finally, Picton Mahoney Asset Management grew its stake in shares of General Electric by 62.4% in 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 during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 3.0 %

Shares of NYSE:GE opened at $199.66 on Friday. General Electric has a 52 week low of $133.99 and a 52 week high of $214.21. 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 company has a market cap of $214.29 billion, a PE ratio of 33.33, a P/E/G ratio of 2.59 and a beta of 1.19. The company’s 50 day moving average is $201.52 and its two-hundred day moving average is $186.36.

General Electric (NYSE:GE) last released its quarterly earnings data 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 return on equity of 22.19% and a net margin of 14.31%. Equities analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GE shares. Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. UBS Group upped their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Citigroup increased their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average 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.