Royal London Asset Management Ltd. Sells 1,828 Shares of General Electric (NYSE:GE)

Royal London Asset Management Ltd. lessened its holdings in General Electric (NYSE:GE - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 475,017 shares of the conglomerate's stock after selling 1,828 shares during the quarter. Royal London Asset Management Ltd.'s holdings in General Electric were worth $79,228,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GE. Thrivent Financial for Lutherans grew its stake in shares of General Electric by 34.7% in the third quarter. Thrivent Financial for Lutherans now owns 76,795 shares of the conglomerate's stock worth $14,483,000 after purchasing an additional 19,766 shares during the last quarter. Quest Partners LLC grew its position in shares of General Electric by 126.0% in the 3rd quarter. Quest Partners LLC now owns 5,156 shares of the conglomerate's stock valued at $972,000 after buying an additional 2,875 shares during the last quarter. Prospera Financial Services Inc grew its position in shares of General Electric by 10.4% in the 3rd quarter. Prospera Financial Services Inc now owns 27,571 shares of the conglomerate's stock valued at $5,201,000 after buying an additional 2,605 shares during the last quarter. SouthState Corp raised its position in shares of General Electric by 53.8% during the third quarter. SouthState Corp now owns 1,343 shares of the conglomerate's stock worth $253,000 after acquiring an additional 470 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of General Electric in the third quarter worth approximately $6,787,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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General Electric Stock Up 3.1 %

Shares of NYSE:GE traded up $6.43 during midday trading on Monday, hitting $210.56. 4,041,531 shares of the company's stock were exchanged, compared to its average volume of 5,351,104. 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 12 month low of $133.99 and a 12 month high of $212.19. The company has a market cap of $225.99 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The stock has a 50 day moving average price of $198.63 and a 200-day moving average price of $185.15.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings data 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 return on equity of 22.19% and a net margin of 14.31%. On average, sell-side analysts anticipate that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. This is a positive change from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Monday, March 10th. General Electric's dividend payout ratio is presently 24.04%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GE shares. Northcoast Research initiated coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a "neutral" rating on the stock. UBS Group boosted 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. Bank of America increased their price target on General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Finally, Citigroup raised their target price on General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.