Game Creek Capital LP Takes $387,000 Position in General Electric (NYSE:GE)

Game Creek Capital LP bought a new stake in shares of General Electric (NYSE:GEGet Rating) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,250 shares of the conglomerate’s stock, valued at approximately $387,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Commerce Bank lifted its position in General Electric by 0.6% in the third quarter. Commerce Bank now owns 52,786 shares of the conglomerate’s stock worth $3,268,000 after buying an additional 310 shares during the last quarter. Schechter Investment Advisors LLC lifted its position in General Electric by 11.9% in the third quarter. Schechter Investment Advisors LLC now owns 16,374 shares of the conglomerate’s stock worth $1,013,000 after buying an additional 1,743 shares during the last quarter. Pzena Investment Management LLC lifted its position in General Electric by 5.6% in the third quarter. Pzena Investment Management LLC now owns 13,761,615 shares of the conglomerate’s stock worth $851,982,000 after buying an additional 725,871 shares during the last quarter. XML Financial LLC lifted its position in General Electric by 22.6% in the third quarter. XML Financial LLC now owns 5,395 shares of the conglomerate’s stock worth $334,000 after buying an additional 993 shares during the last quarter. Finally, AIA Group Ltd bought a new stake in General Electric in the third quarter worth $830,000. 70.12% of the stock is currently owned by institutional investors.

General Electric Stock Performance

Shares of General Electric stock opened at $80.70 on Wednesday. The stock’s fifty day moving average price is $81.74 and its 200-day moving average price is $75.62. General Electric has a 12 month low of $46.55 and a 12 month high of $81.18. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.10.

General Electric (NYSE:GEGet Rating) last posted its earnings results on Tuesday, January 24th. The conglomerate reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.08. General Electric had a positive return on equity of 7.20% and a negative net margin of 7.78%. The company had revenue of $21.79 billion for the quarter, compared to analyst estimates of $22.11 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts expect that General Electric will post 2.51 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Thursday, December 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, December 14th. General Electric’s dividend payout ratio is presently -5.79%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GE. Royal Bank of Canada raised their price target on General Electric from $93.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, December 9th. StockNews.com upgraded General Electric from a “hold” rating to a “buy” rating in a research report on Saturday, January 14th. UBS Group decreased their target price on General Electric from $98.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, January 12th. Bank of America decreased their target price on General Electric from $105.00 to $85.00 in a research report on Monday, January 9th. Finally, Citigroup lifted their target price on General Electric from $87.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, December 9th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.17.

General Electric Profile

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General Electric Co is a high-tech industrial company. the firm operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power. The Aviation segment designs and produces commercial and military aircraft engines, integrated engine components, electric power and mechanical aircraft systems.

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

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