Thoroughbred Financial Services LLC Buys 871 Shares of General Electric (NYSE:GE)

Thoroughbred Financial Services LLC lifted its stake in General Electric (NYSE:GE) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,654 shares of the conglomerate’s stock after purchasing an additional 871 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in General Electric were worth $1,109,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GE. New Age Alpha Advisors LLC increased its stake in 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 period. Hager Investment Management Services LLC purchased a new stake in shares of General Electric in the fourth quarter valued at approximately $27,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Electric in the fourth quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC bought a new stake in General Electric during the 4th quarter valued at $29,000. Finally, Picton Mahoney Asset Management lifted its holdings in shares of General Electric by 62.4% in the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after buying an additional 68 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Bank of America increased their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. UBS Group lifted their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $214.73.

General Electric Stock Down 11.1 %

GE opened at $166.76 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $146.78 and a twelve month high of $214.21. The company has a market cap of $178.98 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The company has a 50-day moving average price of $201.56 and a 200 day moving average price of $187.07.

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

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.86%. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is 24.04%.

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.