Jupiter Asset Management Ltd. Takes Position in General Electric (NYSE:GE)

Jupiter Asset Management Ltd. bought a new stake in General Electric (NYSE:GE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 369,599 shares of the conglomerate’s stock, valued at approximately $61,645,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Atria Investments Inc lifted its position in General Electric by 15.7% during the third quarter. Atria Investments Inc now owns 23,407 shares of the conglomerate’s stock worth $4,414,000 after buying an additional 3,179 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in General Electric by 41.8% during the third quarter. Axxcess Wealth Management LLC now owns 12,443 shares of the conglomerate’s stock worth $2,347,000 after buying an additional 3,671 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in General Electric during the third quarter worth approximately $210,000. Tyler Stone Wealth Management raised its position in General Electric by 116.8% in the third quarter. Tyler Stone Wealth Management now owns 1,316 shares of the conglomerate’s stock valued at $248,000 after purchasing an additional 709 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in General Electric in the third quarter valued at $165,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group lifted their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Bank of America boosted 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. Wells Fargo & Company lifted their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

NYSE GE opened at $191.89 on Wednesday. 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 business’s 50 day moving average is $193.99 and its two-hundred day moving average is $183.50. General Electric has a 12-month low of $131.14 and a 12-month high of $212.19. The stock has a market capitalization of $205.95 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. Research analysts expect 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. Investors of record on Monday, March 10th will be issued 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 0.75%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 24.04%.

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.