Nomura Asset Management Co. Ltd. lowered its stake in General Electric (NYSE:GE - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 379,988 shares of the conglomerate's stock after selling 1,426 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in General Electric were worth $63,378,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in GE. Norges Bank purchased a new position in shares of General Electric in the fourth quarter worth about $2,375,439,000. Janus Henderson Group PLC increased its holdings in General Electric by 505.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate's stock worth $359,882,000 after buying an additional 1,593,413 shares during the period. Raymond James Financial Inc. purchased a new position in General Electric during the 4th quarter worth approximately $194,208,000. Franklin Resources Inc. boosted its holdings in shares of General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate's stock valued at $278,247,000 after acquiring an additional 973,135 shares during the last quarter. Finally, State Street Corp increased its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on GE. Bank of America boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Redburn Atlantic began coverage on General Electric in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price on the stock. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Citigroup boosted their price target on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has an average rating of "Moderate Buy" and a consensus target price of $211.31.
View Our Latest Research Report on GE
General Electric Price Performance
Shares of NYSE:GE traded up $3.14 during midday trading on Tuesday, hitting $203.29. The company had a trading volume of 1,169,171 shares, compared to its average volume of 5,481,182. The business's 50-day simple moving average is $201.87 and its 200-day simple moving average is $186.85. The stock has a market cap of $218.19 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a twelve month low of $133.99 and a twelve month high of $214.21.
General Electric (NYSE:GE - Get Free Report) last posted its quarterly 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, research analysts predict that General Electric will post 5.4 earnings per share for the current year.
General Electric Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is presently 24.04%.
General Electric Profile
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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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