Senator Investment Group LP Grows Stock Holdings in General Electric (NYSE:GE)

Senator Investment Group LP increased its position in General Electric (NYSE:GE) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,963 shares of the conglomerate’s stock after purchasing an additional 21,963 shares during the period. General Electric makes up approximately 1.4% of Senator Investment Group LP’s holdings, making the stock its 23rd biggest position. Senator Investment Group LP’s holdings in General Electric were worth $47,029,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. New Age Alpha Advisors LLC boosted its stake in shares of General Electric by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock worth $25,000 after buying an additional 84 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in General Electric during the fourth quarter valued at approximately $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in General Electric in the 4th quarter worth $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Electric during the fourth quarter worth about $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new position in shares of General Electric in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.3 %

Shares of NYSE:GE opened at $181.88 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $148.83 and a twelve month high of $214.21. The company has a market capitalization of $195.21 billion, a PE ratio of 30.36, a P/E/G ratio of 2.59 and a beta of 1.04. The firm has a 50 day simple moving average of $196.12 and a 200-day simple moving average of $186.52.

General Electric (NYSE:GE) last posted its quarterly earnings data 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 return on equity of 22.19% and a net margin of 14.31%. On average, equities analysts predict 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. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.79%. General Electric’s payout ratio is currently 24.04%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Redburn Atlantic initiated coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. 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 research note on Thursday, January 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. UBS Group raised their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Citigroup reduced their price objective on shares of General Electric from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $213.33.

About General Electric

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.