FIL Ltd Sells 62,601 Shares of General Electric (NYSE:GE)

FIL Ltd reduced its position in General Electric (NYSE:GE - Free Report) by 3.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,673,621 shares of the conglomerate's stock after selling 62,601 shares during the period. FIL Ltd owned 0.16% of General Electric worth $279,143,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GE. Southeast Asset Advisors LLC grew its position in General Electric by 23.4% during the fourth quarter. Southeast Asset Advisors LLC now owns 1,529 shares of the conglomerate's stock valued at $255,000 after buying an additional 290 shares during the period. Canopy Partners LLC grew its holdings in General Electric by 24.3% in 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 last quarter. Twin Capital Management Inc. increased its position in shares of General Electric by 1.4% in the 4th quarter. Twin Capital Management Inc. now owns 29,085 shares of the conglomerate's stock valued at $4,851,000 after acquiring an additional 398 shares during the period. Invesco Ltd. lifted its holdings in shares of 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 buying an additional 1,204,910 shares during the period. Finally, Bank of Montreal Can raised 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 worth $255,543,000 after purchasing an additional 133,381 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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General Electric Price Performance

General Electric stock traded up $0.09 during trading hours on Friday, reaching $181.60. 6,490,484 shares of the stock were exchanged, compared to its average volume of 5,478,609. The stock has a 50 day moving average of $198.36 and a two-hundred day moving average of $186.59. 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 $146.78 and a twelve month high of $214.21. The company has a market cap of $194.91 billion, a P/E 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 results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Equities analysts expect that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend yield of 0.79%. This is a positive change from General Electric's previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric's payout ratio is presently 24.04%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GE. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Redburn Atlantic began coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. UBS Group boosted their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. Finally, Northcoast Research raised shares of General Electric from a "neutral" rating to a "buy" rating and set a $205.00 price objective on the stock in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $212.73.

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.