Alliancebernstein L.P. Has $191.19 Million Stock Holdings in General Electric (NYSE:GE)

Alliancebernstein L.P. lowered its holdings in General Electric (NYSE:GE - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,146,272 shares of the conglomerate's stock after selling 24,488 shares during the quarter. Alliancebernstein L.P. owned about 0.11% of General Electric worth $191,187,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in General Electric during the 4th quarter valued at approximately $2,375,439,000. Janus Henderson Group PLC raised its position in shares of General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate's stock worth $359,882,000 after purchasing an additional 1,593,413 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of General Electric during the fourth quarter valued at $194,208,000. Franklin Resources Inc. grew its holdings in shares of General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate's stock worth $278,247,000 after buying an additional 973,135 shares in the last quarter. Finally, State Street Corp grew its stake in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analyst Weigh In

GE has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. UBS Group boosted their price target on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Citigroup raised their price target 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. Finally, Redburn Atlantic started coverage on General Electric in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $214.73.

General Electric Stock Performance

Shares of NYSE GE traded down $20.87 during trading hours on Friday, hitting $166.76. 18,160,091 shares of the stock were exchanged, compared to its average volume of 5,400,110. The firm has a market capitalization of $178.98 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.59 and a beta of 1.04. The company's 50 day moving average is $201.56 and its 200 day moving average is $187.07. General Electric has a one year low of $146.78 and a one year high of $214.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

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

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's payout ratio is 24.04%.

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.