Generali Asset Management SPA SGR Invests $7.09 Million in General Electric (NYSE:GE)

Generali Asset Management SPA SGR purchased a new stake in shares of General Electric (NYSE:GE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 42,482 shares of the conglomerate's stock, valued at approximately $7,086,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oppenheimer Asset Management Inc. boosted its holdings in General Electric by 14.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,013 shares of the conglomerate's stock valued at $757,000 after acquiring an additional 513 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of General Electric by 34.7% during the third quarter. Thrivent Financial for Lutherans now owns 76,795 shares of the conglomerate's stock valued at $14,483,000 after buying an additional 19,766 shares during the period. Quest Partners LLC raised its stake in General Electric by 126.0% in the third quarter. Quest Partners LLC now owns 5,156 shares of the conglomerate's stock worth $972,000 after buying an additional 2,875 shares in the last quarter. OneAscent Financial Services LLC bought a new stake in General Electric during the 3rd quarter valued at approximately $625,000. Finally, Prospera Financial Services Inc grew its holdings in shares of General Electric by 10.4% during the 3rd quarter. Prospera Financial Services Inc now owns 27,571 shares of the conglomerate's stock worth $5,201,000 after acquiring an additional 2,605 shares during the period. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GE shares. Bank of America lifted their price target on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company lifted their price target 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. JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Citigroup lifted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.31.

Remove Ads

General Electric Stock Performance

NYSE:GE traded up $0.06 during mid-day trading on Friday, reaching $203.99. The company's stock had a trading volume of 7,960,224 shares, compared to its average volume of 5,356,361. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a market cap of $218.94 billion, a P/E ratio of 34.06, a PEG ratio of 2.59 and a beta of 1.19. The firm's fifty day moving average price is $198.63 and its two-hundred day moving average price is $185.01. General Electric has a 12-month low of $133.99 and a 12-month high of $212.19.

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

General Electric Increases Dividend

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

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.