KBC Group NV raised its position in General Electric (NYSE:GE - Free Report) by 32.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 223,208 shares of the conglomerate's stock after purchasing an additional 54,473 shares during the period. KBC Group NV's holdings in General Electric were worth $37,228,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its position in shares of 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 lifted its position in shares of 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 increased its stake in shares of General Electric by 91.8% in the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of General Electric by 6.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate's stock valued at $1,236,428,000 after acquiring an additional 413,388 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of General Electric by 12.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate's stock valued at $774,458,000 after acquiring an additional 457,038 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.
Insider Buying and Selling
In other General Electric news, SVP Russell Stokes sold 15,550 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company's stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
Analysts Set New Price Targets
Several analysts have recently weighed in on GE shares. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating for the company. UBS Group lifted their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a research note on Friday. Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Finally, Citigroup lifted their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $208.73.
Read Our Latest Stock Report on GE
General Electric Stock Down 0.0 %
Shares of NYSE GE traded down $0.00 during trading on Tuesday, hitting $194.46. The stock had a trading volume of 4,856,981 shares, compared to its average volume of 6,498,970. General Electric has a 12 month low of $103.75 and a 12 month high of $207.65. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $210.46 billion, a PE ratio of 34.18, a PEG ratio of 1.53 and a beta of 1.19. The firm has a fifty day moving average of $175.67 and a two-hundred day moving average of $175.38.
General Electric (NYSE:GE - Get Free Report) last posted its 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 net margin of 11.48% and a return on equity of 18.93%. As a group, equities research analysts forecast that General Electric will post 4.23 EPS for the current fiscal year.
General Electric Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Friday, December 27th. General Electric's dividend payout ratio (DPR) is currently 19.68%.
About General Electric
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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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