Bank of Nova Scotia Has $128.89 Million Stock Position in General Electric (NYSE:GE)

Bank of Nova Scotia grew its holdings in General Electric (NYSE:GE - Free Report) by 239.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 772,795 shares of the conglomerate's stock after buying an additional 545,379 shares during the period. Bank of Nova Scotia owned 0.07% of General Electric worth $128,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Southeast Asset Advisors LLC raised its holdings in General Electric by 23.4% in the 4th quarter. Southeast Asset Advisors LLC now owns 1,529 shares of the conglomerate's stock valued at $255,000 after acquiring an additional 290 shares during the period. Canopy Partners LLC increased its stake in shares of General Electric by 24.3% during the fourth quarter. Canopy Partners LLC now owns 2,384 shares of the conglomerate's stock worth $398,000 after purchasing an additional 466 shares during the period. Twin Capital Management Inc. lifted its holdings in General Electric by 1.4% during the 4th quarter. Twin Capital Management Inc. now owns 29,085 shares of the conglomerate's stock worth $4,851,000 after purchasing an additional 398 shares during the last quarter. Invesco Ltd. boosted its stake in General Electric by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the conglomerate's stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares during the period. Finally, Bank of Montreal Can grew its holdings in General Electric by 9.5% in the 4th quarter. Bank of Montreal Can now owns 1,532,121 shares of the conglomerate's stock valued at $255,543,000 after buying an additional 133,381 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

GE has been the subject of a number of research reports. UBS Group lifted their target price on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, January 24th. JPMorgan Chase & Co. lifted 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. Citigroup decreased their target price on shares of General Electric from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Redburn Atlantic initiated coverage on General Electric in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric has an average rating of "Moderate Buy" and an average price target of $212.73.

General Electric Price Performance

Shares of GE stock traded up $0.09 on Friday, reaching $181.60. The company had a trading volume of 6,490,484 shares, compared to its average volume of 5,478,609. The business's 50-day moving average is $198.36 and its 200 day moving average is $186.59. General Electric has a one year low of $146.78 and a one year high of $214.21. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $194.91 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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%. Equities research analysts forecast 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. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Monday, March 10th. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is presently 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.