324,885 Shares in General Electric (NYSE:GE) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new position in shares of General Electric (NYSE:GE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 324,885 shares of the conglomerate's stock, valued at approximately $54,344,000.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GE shares. Redburn Atlantic initiated coverage on General Electric in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company lowered their price objective on shares of General Electric from $250.00 to $203.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Northcoast Research raised shares of General Electric from a "neutral" rating to a "buy" rating and set a $205.00 target price for the company in a report on Wednesday. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, General Electric has an average rating of "Moderate Buy" and a consensus price target of $211.19.

General Electric Price Performance

GE traded up $0.42 on Wednesday, hitting $169.79. 2,993,858 shares of the company were exchanged, compared to its average volume of 5,452,688. General Electric has a fifty-two week low of $146.78 and a fifty-two week high of $214.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a market capitalization of $182.23 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The business's fifty day moving average is $199.92 and its 200 day moving average is $186.71.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. As a group, sell-side analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid 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 dividend yield of 0.85%. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio (DPR) is presently 24.04%.

About General Electric

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.