Thoroughbred Financial Services LLC Increases Holdings in General Electric (NYSE:GE)

Thoroughbred Financial Services LLC raised its stake in General Electric (NYSE:GE) by 15.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,654 shares of the conglomerate’s stock after buying an additional 871 shares during the period. Thoroughbred Financial Services LLC’s holdings in General Electric were worth $1,109,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in shares of General Electric during the 4th quarter worth $2,375,439,000. Raymond James Financial Inc. acquired a new position in General Electric in the fourth quarter valued at about $194,208,000. Franklin Resources Inc. boosted its stake in General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after buying an additional 973,135 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of General Electric by 15,750.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 768,588 shares of the conglomerate’s stock valued at $138,368,000 after acquiring an additional 763,739 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of General Electric by 74.8% in the 4th quarter. Prudential Financial Inc. now owns 1,369,932 shares of the conglomerate’s stock worth $228,491,000 after acquiring an additional 586,045 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE opened at $166.76 on Friday. 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 firm’s fifty day simple moving average is $201.56 and its 200-day simple moving average is $187.07. The firm has a market capitalization of $178.98 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.59 and a beta of 1.04. General Electric has a twelve month low of $146.78 and a twelve month high of $214.21.

General Electric (NYSE:GE) last announced its quarterly 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%. Equities analysts forecast that General Electric will post 5.4 EPS 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. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. 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 0.86%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is currently 24.04%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Citigroup lifted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company increased their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, UBS Group lifted their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $214.73.

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.