Drum Hill Capital LLC Invests $287,000 in General Electric (NYSE:GE)

Drum Hill Capital LLC acquired a new stake in General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,718 shares of the conglomerate’s stock, valued at approximately $287,000.

A number of other hedge funds have also recently modified their holdings of GE. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric in the third quarter valued at approximately $27,000. Hager Investment Management Services LLC acquired a new position in General Electric in the fourth quarter valued at approximately $27,000. Peterson Financial Group Inc. purchased a new position in General Electric in the third quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in General Electric during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE opened at $199.90 on Friday. 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 company has a market cap of $214.55 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of 2.62 and a beta of 1.22. The stock’s 50-day moving average is $186.57 and its two-hundred day moving average is $180.72. General Electric has a 1-year low of $119.88 and a 1-year high of $212.19.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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%. Analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed 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 represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. 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. Bank of America lifted their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Finally, Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.31.

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.