KLP Kapitalforvaltning AS Acquires New Shares in General Electric (NYSE:GE)

KLP Kapitalforvaltning AS acquired a new position in General Electric (NYSE:GE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 331,213 shares of the conglomerate's stock, valued at approximately $55,322,000.

A number of other hedge funds have also modified their holdings of the stock. AXQ Capital LP purchased a new stake in shares of General Electric in the fourth quarter worth approximately $784,000. Hillsdale Investment Management Inc. lifted its position in General Electric by 450.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,980 shares of the conglomerate's stock worth $330,000 after buying an additional 1,620 shares in the last quarter. Intellus Advisors LLC acquired a new stake in shares of General Electric during the 4th quarter valued at $402,000. Sei Investments Co. raised its holdings in shares of General Electric by 0.4% during the fourth quarter. Sei Investments Co. now owns 1,049,868 shares of the conglomerate's stock worth $175,106,000 after acquiring an additional 3,840 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in General Electric by 51.8% during the fourth quarter. American Century Companies Inc. now owns 299,935 shares of the conglomerate's stock valued at $50,026,000 after purchasing an additional 102,319 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on GE shares. Citigroup boosted their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. UBS Group upped their price target on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Finally, Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They set a "neutral" rating for the company. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, General Electric currently has an average rating of "Moderate Buy" and an average target price of $211.31.

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General Electric Price Performance

NYSE GE traded down $4.80 during trading hours on Wednesday, reaching $207.33. 4,790,796 shares of the company's stock were exchanged, compared to its average volume of 5,339,743. The firm has a fifty day moving average of $200.66 and a 200-day moving average of $185.98. General Electric has a one year low of $133.99 and a one year high of $213.53. The stock has a market cap of $222.53 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, equities research analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a positive change from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Monday, March 10th. General Electric's payout ratio is presently 24.04%.

General Electric Profile

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.