Allstate Corp Acquires New Stake in General Electric (NYSE:GE)

Allstate Corp purchased a new position in shares of General Electric (NYSE:GE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 32,077 shares of the conglomerate's stock, valued at approximately $5,350,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GE. New Age Alpha Advisors LLC increased its holdings in General Electric by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate's stock worth $25,000 after purchasing an additional 84 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the 4th quarter valued at $27,000. Sugar Maple Asset Management LLC acquired a new position in shares of General Electric during the 4th quarter valued at $29,000. CBIZ Investment Advisory Services LLC bought a new position in General Electric during the fourth quarter worth $29,000. Finally, Picton Mahoney Asset Management grew its holdings in General Electric by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate's stock worth $30,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

General Electric Stock Performance

Shares of NYSE GE traded up $3.78 during midday trading on Tuesday, reaching $203.93. The company's stock had a trading volume of 1,267,043 shares, compared to its average volume of 5,129,501. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a market capitalization of $218.88 billion, a P/E ratio of 34.04, a PEG ratio of 2.59 and a beta of 1.19. The firm has a 50 day moving average price of $201.87 and a 200-day moving average price of $186.85. General Electric has a 12-month low of $133.99 and a 12-month high of $214.21.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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%. As a group, equities analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, March 10th. This is an increase from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio (DPR) is 24.04%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GE shares. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Wells Fargo & Company upped their price target on General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating for the company. Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Finally, Citigroup lifted their price target on shares of General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, General Electric presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.31.

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.