AMF Tjanstepension AB Takes $76.60 Million Position in General Electric (NYSE:GE)

AMF Tjanstepension AB purchased a new stake in shares of General Electric (NYSE:GE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 459,248 shares of the conglomerate's stock, valued at approximately $76,598,000.

Several other large investors have also recently bought and sold shares of the business. Jennison Associates LLC lifted its stake in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate's stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC lifted its position in 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 acquiring an additional 1,593,413 shares during the last quarter. Raymond James Financial Inc. bought a new stake in General Electric during the fourth quarter valued at about $194,208,000. Franklin Resources Inc. grew its position in shares of General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate's stock valued at $278,247,000 after purchasing an additional 973,135 shares during the last quarter. Finally, State Street Corp increased its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. Bank of America lifted their price target on General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Citigroup upped their price target on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, UBS Group lifted their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric has a consensus rating of "Moderate Buy" and a consensus target price of $211.31.

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General Electric Price Performance

Shares of NYSE GE traded down $0.89 during trading on Tuesday, reaching $191.23. The company had a trading volume of 1,875,987 shares, compared to its average volume of 5,314,161. General Electric has a 52 week low of $131.14 and a 52 week high of $212.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The business's 50 day moving average price is $193.49 and its 200-day moving average price is $183.35. The stock has a market cap of $205.25 billion, a PE ratio of 31.90, a PEG ratio of 2.59 and a beta of 1.19.

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 (EPS) 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%. Analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a boost from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.75%. The ex-dividend date is Monday, March 10th. General Electric's payout ratio is currently 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.