Cullen Investment Group LTD. Invests $607,000 in General Electric (NYSE:GE)

Cullen Investment Group LTD. bought a new position in General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,753 shares of the conglomerate’s stock, valued at approximately $607,000.

A number of other hedge funds have also bought and sold shares of the business. Waldron Private Wealth LLC raised its position in General Electric by 8.5% in the 4th quarter. Waldron Private Wealth LLC now owns 6,975 shares of the conglomerate’s stock worth $890,000 after buying an additional 545 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in General Electric by 1.5% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 24,098 shares of the conglomerate’s stock worth $3,076,000 after buying an additional 345 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in General Electric in the 4th quarter worth about $2,673,000. Nottingham Advisors Inc. purchased a new position in General Electric in the 4th quarter worth about $202,000. Finally, Crown Oak Advisors LLC bought a new stake in shares of General Electric during the 4th quarter valued at about $1,720,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of recent research reports. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Bank of America cut their price objective on General Electric from $175.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, April 8th. JPMorgan Chase & Co. cut their price objective on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and upped their price target for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Finally, Jefferies Financial Group dropped their price target on General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $160.07.

General Electric Stock Down 0.6 %

Shares of GE opened at $153.71 on Tuesday. The stock has a market capitalization of $168.05 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29. General Electric has a 1 year low of $76.38 and a 1 year high of $158.68. The business’s 50 day simple moving average is $158.14 and its 200-day simple moving average is $133.49. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The business had revenue of $19.42 billion for the quarter, compared to analysts’ expectations of $17.27 billion. During the same period in the prior year, the firm earned $1.24 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, equities analysts expect that General Electric will post 3.78 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is presently 13.38%.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was 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 owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.