Front Street Capital Management Inc. reduced its stake in shares of General Electric (NYSE:GE - Free Report) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 260,581 shares of the conglomerate's stock after selling 1,585 shares during the quarter. General Electric makes up approximately 7.5% of Front Street Capital Management Inc.'s investment portfolio, making the stock its 3rd largest position. Front Street Capital Management Inc.'s holdings in General Electric were worth $43,462,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of General Electric by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate's stock valued at $14,980,297,000 after buying an additional 410,172 shares during the period. FMR LLC raised its holdings in shares of General Electric by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the conglomerate's stock valued at $11,145,570,000 after purchasing an additional 965,012 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of General Electric by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate's stock worth $3,846,587,000 after purchasing an additional 529,457 shares during the period. Norges Bank bought a new position in shares of General Electric during the fourth quarter valued at approximately $2,375,439,000. Finally, Invesco Ltd. increased its holdings in General Electric by 14.4% during the fourth 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. Hedge funds and other institutional investors own 74.77% of the company's stock.
General Electric Stock Performance
NYSE GE traded up $8.43 during trading hours on Tuesday, reaching $186.78. The stock had a trading volume of 5,562,759 shares, compared to its average volume of 5,450,700. General Electric has a 52-week low of $148.83 and a 52-week high of $214.21. 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 stock has a market cap of $200.47 billion, a P/E ratio of 31.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The stock has a fifty day moving average of $195.49 and a 200 day moving average of $186.46.
General Electric (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Sell-side analysts predict that General Electric will post 5.4 earnings per share for the current year.
General Electric Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.77%. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is currently 24.04%.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Citigroup lowered their target price on General Electric from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft decreased 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. Bank of America lifted their target price on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Northcoast Research raised shares of General Electric from a "neutral" rating to a "buy" rating and set a $205.00 price target for the company in a research report on Wednesday, April 9th. Finally, 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 report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $213.33.
View Our Latest Analysis on General Electric
General Electric Profile
(
Free Report)
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.
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