May Hill Capital LLC Makes New $289,000 Investment in General Electric (NYSE:GE)

May Hill Capital LLC purchased a new stake in General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,735 shares of the conglomerate’s stock, valued at approximately $289,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in General Electric by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock valued at $14,980,297,000 after purchasing an additional 410,172 shares during the period. State Street Corp increased its position in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares during the period. Geode Capital Management LLC increased its position in shares of General Electric by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate’s stock worth $3,846,587,000 after buying an additional 529,457 shares during the period. Norges Bank bought a new position in General Electric during the fourth quarter worth $2,375,439,000. Finally, Jennison Associates LLC boosted its position in General Electric by 1.4% during the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after acquiring an additional 106,891 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Bank of America boosted their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Redburn Atlantic initiated coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Citigroup boosted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company raised their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

Shares of NYSE:GE opened at $203.90 on Wednesday. General Electric has a 1-year low of $133.99 and a 1-year high of $214.21. 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 stock has a market cap of $218.85 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The stock’s fifty day simple moving average is $202.20 and its two-hundred day simple moving average is $187.04.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm 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 dividend of $0.36 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is 24.04%.

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.