Kennedy Investment Group Grows Holdings in General Electric (NYSE:GE)

Kennedy Investment Group increased its position in shares of General Electric (NYSE:GE) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,655 shares of the conglomerate’s stock after purchasing an additional 77 shares during the quarter. Kennedy Investment Group’s holdings in General Electric were worth $276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in 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 purchasing an additional 898,296 shares during the last quarter. Geode Capital Management LLC boosted its holdings in General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the last quarter. Jennison Associates LLC boosted its holdings in General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in General Electric by 6.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after purchasing an additional 413,388 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in General Electric by 12.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock valued at $774,458,000 after acquiring an additional 457,038 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

General Electric Price Performance

Shares of NYSE:GE opened at $194.46 on Wednesday. The company’s fifty day moving average price is $175.67 and its 200-day moving average price is $175.38. The firm has a market capitalization of $210.46 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 1.53 and a beta of 1.19. General Electric has a one year low of $103.75 and a one year high of $207.65. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. On average, equities research analysts anticipate that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. General Electric’s dividend payout ratio (DPR) is 19.68%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GE shares. Bank of America boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday. 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 note on Monday. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

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.