Los Angeles Capital Management LLC Purchases 156,909 Shares of General Electric (NYSE:GE)

Los Angeles Capital Management LLC increased its position in shares of General Electric (NYSE:GE) by 289.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,089 shares of the conglomerate’s stock after buying an additional 156,909 shares during the quarter. Los Angeles Capital Management LLC’s holdings in General Electric were worth $26,941,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GE. Prime Capital Investment Advisors LLC raised its holdings in General Electric by 29.3% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after acquiring an additional 6,419 shares in the last quarter. Fifth Third Bancorp increased its holdings in General Electric by 12.5% during the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after buying an additional 28,985 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in General Electric by 10.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after acquiring an additional 10,722 shares during the last quarter. Grandfield & Dodd LLC raised its holdings in shares of General Electric by 9.3% in the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after purchasing an additional 22,998 shares during the period. Finally, Qsemble Capital Management LP bought a new position in shares of General Electric during the 3rd quarter worth approximately $1,846,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GE. StockNews.com initiated coverage on General Electric in a report on Monday, April 29th. They set a “hold” rating for the company. Vertical Research began coverage on shares of General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price for the company. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Finally, Citigroup increased their target price on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is owned by company insiders.

General Electric Price Performance

NYSE:GE traded up $1.47 during trading hours on Friday, hitting $164.11. The company’s stock had a trading volume of 3,968,626 shares, compared to its average volume of 7,987,890. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The company has a market capitalization of $179.64 billion, a P/E ratio of 53.81, a PEG ratio of 2.89 and a beta of 1.25. General Electric has a twelve month low of $77.93 and a twelve month high of $166.26. The stock has a fifty day simple moving average of $161.72 and a 200-day simple moving average of $137.50.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. On average, analysts anticipate that General Electric will post 3.96 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. This is an increase from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is currently 36.72%.

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.