Hiddenite Capital Partners LP Acquires Shares of 15,000 General Electric (NYSE:GE)

Hiddenite Capital Partners LP purchased a new stake in General Electric (NYSE:GE) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 15,000 shares of the conglomerate’s stock, valued at approximately $1,914,000. General Electric accounts for approximately 1.1% of Hiddenite Capital Partners LP’s portfolio, making the stock its 18th biggest holding.

Several other hedge funds have also recently modified their holdings of GE. Norges Bank purchased a new position in General Electric during the fourth quarter worth approximately $1,193,159,000. WCM Investment Management LLC acquired a new position in shares of General Electric during the 4th quarter valued at about $520,488,000. Lone Pine Capital LLC acquired a new stake in General Electric during the fourth quarter worth about $268,519,000. Brown Advisory Inc. raised its stake in General Electric by 62.3% during the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock worth $623,058,000 after purchasing an additional 1,873,327 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in General Electric by 11,947.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock valued at $201,218,000 after purchasing an additional 1,563,484 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of a number of recent analyst reports. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. The Goldman Sachs Group upped their price target on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. StockNews.com started coverage on General Electric in a research report on Monday, April 29th. They set a “hold” rating for the company. UBS Group upped their target price on shares of General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $177.27.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by company insiders.

General Electric Stock Up 0.1 %

Shares of NYSE GE traded up $0.17 during mid-day trading on Friday, hitting $155.86. The company had a trading volume of 6,246,342 shares, compared to its average volume of 7,356,554. The company has a market capitalization of $170.61 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 1.72 and a beta of 1.23. The business’s 50-day simple moving average is $160.84 and its 200 day simple moving average is $148.26. General Electric has a 1-year low of $82.11 and a 1-year high of $170.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 EPS. On average, analysts predict that General Electric will post 3.99 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were paid a $0.28 dividend. The ex-dividend date was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 0.72%. This is an increase from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 36.72%.

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.