Nordea Investment Management AB Trims Stock Position in General Electric (NYSE:GE)

Nordea Investment Management AB lowered its position in shares of General Electric (NYSE:GE - Free Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,997 shares of the conglomerate's stock after selling 3,686 shares during the quarter. Nordea Investment Management AB's holdings in General Electric were worth $13,704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GE. Newport Trust Company LLC purchased a new position in General Electric in the 2nd quarter worth approximately $2,613,332,000. Jennison Associates LLC lifted its position in General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate's stock worth $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in General Electric during the second quarter worth $580,200,000. International Assets Investment Management LLC boosted its stake in General Electric by 21,069.8% during the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate's stock worth $598,391,000 after buying an additional 3,158,153 shares during the last quarter. Finally, Wulff Hansen & CO. grew its holdings in General Electric by 18,693.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate's stock valued at $256,581,000 after buying an additional 1,605,434 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company's stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares of the company's stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GE has been the topic of several recent research reports. Northcoast Research initiated coverage on shares of General Electric in a research report on Tuesday. They set a "neutral" rating on the stock. Wells Fargo & Company boosted their target price on shares of General Electric from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Citigroup increased their price target on shares of General Electric from $198.00 to $216.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Royal Bank of Canada reduced their price target on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Electric has an average rating of "Moderate Buy" and a consensus target price of $201.47.

General Electric Stock Up 0.3 %

Shares of GE traded up $0.54 during mid-day trading on Thursday, hitting $172.85. 4,527,662 shares of the company's stock were exchanged, compared to its average volume of 4,825,919. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market cap of $187.07 billion, a price-to-earnings ratio of 30.38, a P/E/G ratio of 1.63 and a beta of 1.19. The stock's 50-day moving average is $174.34 and its 200-day moving average is $173.28. General Electric has a fifty-two week low of $100.95 and a fifty-two week high of $194.80.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion during the quarter, compared to analysts' expectations of $9.02 billion. During the same quarter last year, the company posted $0.82 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. General Electric's payout ratio is 19.68%.

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.