Hudson Canyon Capital Management Acquires 850 Shares of General Electric (NYSE:GE)

Hudson Canyon Capital Management grew its stake in General Electric (NYSE:GE) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,350 shares of the conglomerate’s stock after purchasing an additional 850 shares during the quarter. General Electric comprises approximately 1.3% of Hudson Canyon Capital Management’s holdings, making the stock its 29th largest holding. Hudson Canyon Capital Management’s holdings in General Electric were worth $2,060,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning boosted its position in shares of General Electric by 9.0% during the third quarter. Creative Planning now owns 196,581 shares of the conglomerate’s stock worth $37,071,000 after purchasing an additional 16,258 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in General Electric by 11.4% during the third quarter. Resonant Capital Advisors LLC now owns 3,912 shares of the conglomerate’s stock worth $739,000 after acquiring an additional 399 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in General Electric by 27.5% in the third quarter. Cyndeo Wealth Partners LLC now owns 3,076 shares of the conglomerate’s stock valued at $580,000 after acquiring an additional 664 shares during the period. OLD National Bancorp IN raised its position in shares of General Electric by 19.9% during the third quarter. OLD National Bancorp IN now owns 3,294 shares of the conglomerate’s stock worth $621,000 after purchasing an additional 547 shares during the period. Finally, Vest Financial LLC lifted its holdings in shares of General Electric by 196.5% during the 3rd quarter. Vest Financial LLC now owns 8,181 shares of the conglomerate’s stock valued at $1,543,000 after purchasing an additional 5,422 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Up 0.1 %

General Electric stock opened at $208.62 on Tuesday. General Electric has a twelve month low of $117.43 and a twelve month high of $211.42. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market cap of $223.91 billion, a P/E ratio of 34.83, a P/E/G ratio of 2.56 and a beta of 1.22. The company’s 50-day moving average price is $182.66 and its two-hundred day moving average price is $179.40.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. As a group, analysts expect that General Electric will post 5.39 EPS for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given 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 annualized dividend and a yield of 0.69%. General Electric’s payout ratio is currently 18.70%.

Analysts Set New Price Targets

Several analysts have commented on GE shares. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Citigroup boosted their price objective 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. UBS Group lifted 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. Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $208.73.

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.