Vanguard Group Inc. raised its holdings in shares of General Electric (NYSE:GE - Free Report) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,815,318 shares of the conglomerate's stock after purchasing an additional 410,172 shares during the quarter. Vanguard Group Inc. owned 8.37% of General Electric worth $14,980,297,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Hager Investment Management Services LLC bought a new position in shares of General Electric during the 4th quarter valued at approximately $27,000. Sugar Maple Asset Management LLC purchased a new position in General Electric during the fourth quarter worth $29,000. CBIZ Investment Advisory Services LLC purchased a new position in General Electric during the fourth quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new position in General Electric during the third quarter valued at $30,000. Finally, Picton Mahoney Asset Management raised its stake in shares of 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 during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.
General Electric Stock Up 0.9 %
Shares of NYSE:GE traded up $1.95 on Tuesday, reaching $212.18. The company had a trading volume of 4,294,546 shares, compared to its average volume of 5,350,355. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $227.73 billion, a PE ratio of 35.42, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a 52-week low of $133.99 and a 52-week high of $212.19. The firm's 50 day simple moving average is $199.41 and its 200-day simple moving average is $185.47.
General Electric (NYSE:GE - Get Free Report) last posted its 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 return on equity of 22.19% and a net margin of 14.31%. As a group, analysts expect that General Electric will post 5.4 earnings per share for the current fiscal year.
General Electric Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a boost from General Electric's previous quarterly dividend of $0.28. 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 0.68%. General Electric's dividend payout ratio is presently 24.04%.
Wall Street Analysts Forecast Growth
GE has been the subject of a number of recent analyst reports. Bank of America lifted their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Redburn Atlantic started coverage on General Electric in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. Wells Fargo & Company boosted their target price on shares of General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Citigroup raised their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Finally, Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They set a "neutral" rating for the company. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, General Electric currently has a consensus rating of "Moderate Buy" and an average price target of $211.31.
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About General Electric
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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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