Game Creek Capital LP Takes Position in General Electric (NYSE:GE)

Game Creek Capital LP purchased a new stake in General Electric (NYSE:GEGet Rating) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,250 shares of the conglomerate’s stock, valued at approximately $387,000.

Several other hedge funds have also modified their holdings of the business. FMR LLC lifted its holdings in shares of General Electric by 8.4% in the 2nd quarter. FMR LLC now owns 66,963,503 shares of the conglomerate’s stock valued at $4,263,567,000 after buying an additional 5,197,786 shares during the period. Dodge & Cox increased its position in General Electric by 178.6% during the second quarter. Dodge & Cox now owns 28,966,680 shares of the conglomerate’s stock worth $1,844,309,000 after buying an additional 18,569,368 shares in the last quarter. Pzena Investment Management LLC increased its position in General Electric by 5.6% during the third quarter. Pzena Investment Management LLC now owns 13,761,615 shares of the conglomerate’s stock worth $851,982,000 after buying an additional 725,871 shares in the last quarter. Northern Trust Corp increased its position in General Electric by 1.2% during the second quarter. Northern Trust Corp now owns 10,668,591 shares of the conglomerate’s stock worth $679,270,000 after buying an additional 127,322 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of General Electric by 2.8% in the second quarter. Legal & General Group Plc now owns 7,871,992 shares of the conglomerate’s stock valued at $501,211,000 after purchasing an additional 213,008 shares during the period. 70.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GE. Barclays lowered their price objective on General Electric from $96.00 to $81.00 and set an “overweight” rating for the company in a research report on Thursday, January 5th. Wells Fargo & Company lifted their price objective on General Electric from $72.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, January 19th. Royal Bank of Canada lifted their price objective on General Electric from $93.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, December 9th. StockNews.com raised General Electric from a “hold” rating to a “buy” rating in a research report on Saturday, January 14th. Finally, Oppenheimer raised General Electric from a “market perform” rating to an “outperform” rating and set a $104.00 price objective for the company in a research report on Tuesday, December 6th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.17.

General Electric Stock Performance

Shares of General Electric stock opened at $80.70 on Wednesday. General Electric has a twelve month low of $46.55 and a twelve month high of $81.18. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The business’s fifty day moving average price is $81.74 and its 200 day moving average price is $75.62.

General Electric (NYSE:GEGet Rating) last issued its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. The company had revenue of $21.79 billion for the quarter, compared to analysts’ expectations of $22.11 billion. General Electric had a positive return on equity of 7.20% and a negative net margin of 7.78%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, equities analysts expect that General Electric will post 2.51 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Wednesday, December 14th. General Electric’s dividend payout ratio is presently -5.79%.

General Electric Profile

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General Electric Co is a high-tech industrial company. the firm operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power. The Aviation segment designs and produces commercial and military aircraft engines, integrated engine components, electric power and mechanical aircraft systems.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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