USA Financial Formulas Buys 10,098 Shares of General Electric (NYSE:GE)

USA Financial Formulas raised its position in shares of General Electric (NYSE:GE - Free Report) by 24,042.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,140 shares of the conglomerate's stock after purchasing an additional 10,098 shares during the period. USA Financial Formulas' holdings in General Electric were worth $1,294,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Prime Capital Investment Advisors LLC boosted its position in General Electric by 29.3% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate's stock valued at $3,613,000 after purchasing an additional 6,419 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of General Electric by 12.5% in the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate's stock worth $33,335,000 after purchasing an additional 28,985 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in General Electric by 10.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate's stock worth $12,087,000 after buying an additional 10,722 shares during the last quarter. Grandfield & Dodd LLC increased its position in General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate's stock valued at $34,432,000 after buying an additional 22,998 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in shares of General Electric during the third quarter valued at about $1,846,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com initiated coverage on shares of General Electric in a research note on Monday, April 29th. They set a "hold" rating on the stock. Argus increased their target price on shares of General Electric from $170.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 24th. Bank of America lifted their price target on General Electric from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. raised their price objective on General Electric from $148.00 to $175.00 and gave the company an "overweight" rating in a report on Monday. Finally, TheStreet raised General Electric from a "c+" rating to a "b+" rating in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, General Electric has a consensus rating of "Moderate Buy" and a consensus price target of $174.21.

General Electric Stock Down 2.4 %

NYSE:GE traded down $3.88 during mid-day trading on Monday, hitting $159.50. The stock had a trading volume of 7,763,815 shares, compared to its average volume of 7,782,091. General Electric has a twelve month low of $79.22 and a twelve month high of $170.80. The stock has a 50-day simple moving average of $163.07 and a two-hundred day simple moving average of $140.35. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $174.59 billion, a PE ratio of 52.30, a PEG ratio of 2.90 and a beta of 1.25.

General Electric (NYSE:GE - Get Free Report) last posted its 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. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion during the quarter, compared to analysts' expectations of $15.25 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts anticipate that General Electric will post 3.96 EPS for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, April 12th. This is a boost from General Electric's previous quarterly dividend of $0.08. General Electric's payout ratio is 36.72%.

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.