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

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. McAdam LLC raised its position in General Electric by 4.2% in the 3rd quarter. McAdam LLC now owns 2,542 shares of the conglomerate’s stock valued at $479,000 after purchasing an additional 103 shares during the last quarter. Brighton Jones LLC increased its stake in shares of General Electric by 19.5% during the third quarter. Brighton Jones LLC now owns 9,587 shares of the conglomerate’s stock worth $1,808,000 after acquiring an additional 1,567 shares during the period. Great Lakes Retirement Inc. raised its holdings in General Electric by 169.2% during the third quarter. Great Lakes Retirement Inc. now owns 2,455 shares of the conglomerate’s stock worth $463,000 after purchasing an additional 1,543 shares in the last quarter. Romano Brothers AND Company acquired a new stake in General Electric in the third quarter valued at about $207,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in General Electric by 69.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,357 shares of the conglomerate’s stock valued at $822,000 after purchasing an additional 1,790 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

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 quick ratio of 0.81 and a current ratio of 1.09. The business’s fifty day moving average price is $186.57 and its two-hundred day moving average price is $180.72. The stock has a market cap of $214.55 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.62 and a beta of 1.22. General Electric has a one year low of $119.88 and a one year high of $212.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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, analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. General Electric’s payout ratio is 24.04%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GE. Northcoast Research initiated coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. UBS Group upped their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $211.31.

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.