General Electric (NYSE:GE) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in General Electric (NYSE:GE - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,223 shares of the conglomerate's stock after purchasing an additional 6,937 shares during the quarter. CIBC Asset Management Inc's holdings in General Electric were worth $27,558,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Jennison Associates LLC boosted its holdings in shares of General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate's stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate's stock valued at $598,391,000 after acquiring an additional 3,158,153 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate's stock valued at $359,882,000 after acquiring an additional 1,593,413 shares during the period. Franklin Resources Inc. boosted its holdings 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 acquiring an additional 973,135 shares during the period. Finally, State Street Corp boosted its holdings 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 valued at $8,181,801,000 after acquiring an additional 898,296 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GE. Northcoast Research began coverage on General Electric in a report on Tuesday, January 7th. They issued a "neutral" rating for the company. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Redburn Atlantic initiated coverage on General Electric in a report on Tuesday. They set a "buy" rating and a $250.00 price target for the company. Finally, Citigroup increased their price target on General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.31.

General Electric Price Performance

Shares of NYSE:GE traded down $8.84 during midday trading on Friday, hitting $199.90. 5,410,517 shares of the stock were exchanged, compared to its average volume of 5,419,847. The stock has a market cap of $214.55 billion, a P/E ratio of 33.37, a PEG ratio of 2.62 and a beta of 1.22. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $119.88 and a twelve month high of $212.19. The company has a 50 day moving average price of $186.57 and a 200-day moving average price of $180.72.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings results 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%. On average, research analysts forecast that General Electric will post 5.4 earnings per share for the current 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 paid a $0.36 dividend. This is an increase from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.72%. General Electric's payout ratio is presently 24.04%.

General Electric Company 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.