Cloverfields Capital Group LP Acquires New Position in General Electric (NYSE:GE)

Cloverfields Capital Group LP acquired a new stake in shares of General Electric (NYSE:GEFree Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,227 shares of the conglomerate’s stock, valued at approximately $795,000.

Several other institutional investors also recently bought and sold shares of the company. Great Valley Advisor Group Inc. raised its position in General Electric by 1.7% in the 4th quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after purchasing an additional 74 shares in the last quarter. Checchi Capital Advisers LLC raised its position in General Electric by 1.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock valued at $814,000 after purchasing an additional 75 shares in the last quarter. Forte Capital LLC ADV raised its position in General Electric by 2.1% in the 4th quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock valued at $519,000 after purchasing an additional 83 shares in the last quarter. Atlas Brown Inc. raised its position in General Electric by 1.0% in the 4th quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock valued at $1,062,000 after purchasing an additional 85 shares in the last quarter. Finally, Capital Analysts LLC raised its position in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Argus raised their target price on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group raised their target price on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Vertical Research started coverage on General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. Finally, TD Cowen raised General Electric from a “hold” rating to a “buy” rating and raised their target price for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $176.00.

Get Our Latest Research Report on GE

General Electric Stock Performance

Shares of GE stock traded up $0.94 during midday trading on Friday, hitting $165.14. The company had a trading volume of 11,704,762 shares, compared to its average volume of 5,166,651. The company’s 50 day simple moving average is $161.56 and its 200 day simple moving average is $145.60. General Electric has a 52-week low of $79.76 and a 52-week high of $170.80. The stock has a market cap of $180.76 billion, a price-to-earnings ratio of 54.14, a PEG ratio of 1.82 and a beta of 1.25. 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:GEGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. Research analysts anticipate that General Electric will post 3.98 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were issued a $0.28 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

About General Electric

(Free Report)

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.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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