Aigen Investment Management LP Cuts Stake in General Electric (NYSE:GE)

Aigen Investment Management LP lessened its holdings in shares of General Electric (NYSE:GE - Free Report) by 38.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,026 shares of the conglomerate's stock after selling 7,628 shares during the period. Aigen Investment Management LP's holdings in General Electric were worth $1,535,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Prime Capital Investment Advisors LLC lifted its position in General Electric by 29.3% in the 4th 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 during the last quarter. Fifth Third Bancorp raised its holdings in shares of General Electric by 12.5% during the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate's stock valued at $33,335,000 after buying an additional 28,985 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of General Electric by 10.9% during the third 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 period. USA Financial Formulas grew its holdings in General Electric by 24,042.9% in the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate's stock worth $1,294,000 after buying an additional 10,098 shares in the last quarter. Finally, Grandfield & Dodd LLC increased its position in General Electric by 9.3% in the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate's stock valued at $34,432,000 after acquiring an additional 22,998 shares during the period. Institutional investors own 74.77% of the company's stock.

General Electric Stock Performance

GE traded up $1.76 on Tuesday, hitting $161.04. The company had a trading volume of 5,070,514 shares, compared to its average volume of 7,653,886. The company's fifty day moving average price is $162.61 and its 200 day moving average price is $142.94. 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 has a 1-year low of $79.76 and a 1-year high of $170.80. The stock has a market cap of $176.28 billion, a price-to-earnings ratio of 52.80, a price-to-earnings-growth ratio of 2.82 and a beta of 1.25.

General Electric (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Equities analysts predict that General Electric will post 3.98 earnings per share for the current fiscal year.

General Electric Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GE. Royal Bank of Canada upped their price target on shares of General Electric from $165.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 24th. Jefferies Financial Group increased their price target on General Electric from $180.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, April 29th. Wells Fargo & Company boosted their price objective on General Electric from $165.00 to $192.00 and gave the stock an "overweight" rating in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $210.00 to $190.00 and set a "buy" rating for the company in a research note on Wednesday, April 3rd. Finally, TheStreet upgraded shares of General Electric from a "c+" rating to a "b+" rating in a research report on Tuesday, January 23rd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $174.21.

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.