Rhumbline Advisers Has $320.45 Million Stock Position in General Electric (NYSE:GE)

Rhumbline Advisers cut its position in shares of General Electric (NYSE:GE - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,921,289 shares of the conglomerate's stock after selling 27,664 shares during the quarter. Rhumbline Advisers owned 0.18% of General Electric worth $320,452,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Geode Capital Management LLC lifted its stake in General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the period. Jennison Associates LLC lifted 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 purchasing an additional 106,891 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in General Electric by 6.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate's stock worth $1,236,428,000 after purchasing an additional 413,388 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in General Electric by 12.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate's stock worth $774,458,000 after purchasing an additional 457,038 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Up 0.8 %

GE traded up $1.67 during trading on Tuesday, reaching $209.94. 4,395,356 shares of the company's stock were exchanged, compared to its average volume of 5,586,972. The company's fifty day moving average price is $183.40 and its 200-day moving average price is $179.67. 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 fifty-two week low of $118.13 and a fifty-two week high of $212.19. The firm has a market capitalization of $225.33 billion, a PE ratio of 35.05, a P/E/G ratio of 2.56 and a beta of 1.22.

General Electric (NYSE:GE - Get Free Report) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 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, equities analysts forecast that General Electric will post 5.39 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. Shareholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's payout ratio is currently 18.70%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GE. Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. 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 research note on Monday, January 27th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating for the company. Finally, Bank of America lifted their target price on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.31.

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.