Massachusetts Financial Services Co. MA Trims Stock Position in General Electric (NYSE:GE)

Massachusetts Financial Services Co. MA decreased its holdings in General Electric (NYSE:GE - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,722,230 shares of the conglomerate's stock after selling 384,556 shares during the period. Massachusetts Financial Services Co. MA owned about 0.35% of General Electric worth $620,831,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. New Age Alpha Advisors LLC lifted its position in General Electric by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate's stock valued at $25,000 after purchasing an additional 84 shares during the period. Hager Investment Management Services LLC purchased a new stake in General Electric during the fourth quarter valued at $27,000. Sugar Maple Asset Management LLC bought a new position in General Electric in the fourth quarter valued at about $29,000. CBIZ Investment Advisory Services LLC purchased a new position in General Electric in the fourth quarter worth about $29,000. Finally, Picton Mahoney Asset Management lifted its stake in shares of General Electric by 62.4% in the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate's stock worth $30,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

General Electric Trading Down 11.1 %

Shares of General Electric stock traded down $20.87 during trading on Friday, hitting $166.76. The stock had a trading volume of 18,160,091 shares, compared to its average volume of 5,400,110. General Electric has a 12 month low of $146.78 and a 12 month high of $214.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm's fifty day simple moving average is $201.56 and its 200-day simple moving average is $187.07. The stock has a market cap of $178.98 billion, a PE ratio of 27.84, a PEG ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings data 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 14.31% and a return on equity of 22.19%. As a group, sell-side 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. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.86%. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. UBS Group upped their target price on shares of General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a report on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They set a "neutral" rating for the company. Finally, Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Two 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $214.73.

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.