US Bancorp DE Sells 2,947 Shares of General Electric (NYSE:GE)

US Bancorp DE trimmed its holdings in shares of General Electric (NYSE:GE - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 316,766 shares of the conglomerate's stock after selling 2,947 shares during the period. US Bancorp DE's holdings in General Electric were worth $52,834,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp lifted its position in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. Geode Capital Management LLC lifted its holdings in shares of General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock valued at $4,244,676,000 after buying an additional 156,272 shares during the period. Jennison Associates LLC lifted its holdings in shares of General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock valued at $1,314,080,000 after buying an additional 106,891 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of General Electric by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate's stock worth $1,128,571,000 after buying an additional 115,257 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of General Electric by 6.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate's stock worth $1,236,428,000 after acquiring an additional 413,388 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

GE traded up $3.84 during trading on Wednesday, reaching $202.61. 6,219,857 shares of the company traded hands, compared to its average volume of 5,314,766. The company has a market cap of $217.46 billion, a P/E ratio of 33.83, a PEG ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a 12-month low of $126.78 and a 12-month high of $212.19. The firm has a fifty day simple moving average of $192.06 and a 200 day simple moving average of $182.77.

General Electric (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. On average, equities analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. This is a positive change from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. General Electric's dividend payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

GE has been the topic of several research reports. Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Citigroup raised their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Redburn Atlantic initiated coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. 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, Wells Fargo & Company boosted their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $211.31.

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.