Maple Capital Management Inc. increased its position in shares of General Electric (NYSE:GE - Free Report) by 2,420.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,705 shares of the conglomerate's stock after purchasing an additional 48,693 shares during the period. Maple Capital Management Inc.'s holdings in General Electric were worth $8,457,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Geode Capital Management LLC grew its position in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock worth $4,244,676,000 after acquiring an additional 156,272 shares during the period. Jennison Associates LLC increased its stake in General Electric by 1.4% during the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock worth $1,314,080,000 after acquiring an additional 106,891 shares during the last quarter. Bank of New York Mellon Corp raised its position in General Electric by 1.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate's stock valued at $1,128,571,000 after purchasing an additional 115,257 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 purchasing an additional 413,388 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on GE. Redburn Atlantic started coverage on General Electric in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on shares of General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. UBS Group lifted 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. Finally, Bank of America upped their price target on General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Three equities 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $211.31.
Check Out Our Latest Research Report on GE
General Electric Stock Up 1.9 %
Shares of GE traded up $3.84 during midday trading on Wednesday, hitting $202.61. The company had a trading volume of 6,219,857 shares, compared to its average volume of 5,314,766. The company's 50-day simple moving average is $192.06 and its 200-day simple moving average is $182.77. 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 1 year low of $126.78 and a 1 year high of $212.19. The firm has a market capitalization of $217.46 billion, a P/E ratio of 33.83, a P/E/G ratio of 2.59 and a beta of 1.19.
General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that General Electric will post 5.4 EPS for the current year.
General Electric Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.71%. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is 24.04%.
About General Electric
(
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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