Andra AP fonden Purchases New Position in General Electric (NYSE:GE)

Andra AP fonden bought a new position in General Electric (NYSE:GE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 48,800 shares of the conglomerate's stock, valued at approximately $8,139,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp boosted 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 purchasing an additional 898,296 shares during the period. Geode Capital Management LLC boosted its stake in General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the period. Jennison Associates LLC boosted its stake in General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock worth $1,314,080,000 after purchasing an additional 106,891 shares during the period. Bank of New York Mellon Corp boosted its stake in General Electric by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate's stock worth $1,128,571,000 after purchasing an additional 115,257 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in General Electric by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate's stock worth $1,122,966,000 after purchasing an additional 202,233 shares during the period. 74.77% of the stock is currently owned by institutional investors.

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General Electric Stock Down 1.0 %

NYSE GE traded down $1.97 during trading on Friday, hitting $194.08. The company's stock had a trading volume of 7,681,174 shares, compared to its average volume of 5,375,542. 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 company has a market cap of $208.31 billion, a PE ratio of 32.40, a P/E/G ratio of 2.59 and a beta of 1.19. The business's 50 day simple moving average is $193.02 and its 200-day simple moving average is $183.11. General Electric has a fifty-two week low of $130.38 and a fifty-two week high of $212.19.

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 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%. On average, equities analysts anticipate that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced 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 is an increase from General Electric's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.74%. General Electric's payout ratio is 24.04%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GE shares. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Redburn Atlantic initiated coverage on General Electric in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Finally, UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $211.31.

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.