General Electric (NYSE:GE) Position Reduced by Capital World Investors

Capital World Investors reduced its position in shares of General Electric (NYSE:GE) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,209,154 shares of the conglomerate’s stock after selling 2,055,898 shares during the quarter. Capital World Investors’ holdings in General Electric were worth $3,370,786,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Coastline Trust Co lifted its holdings in General Electric by 101.8% in the 4th quarter. Coastline Trust Co now owns 11,772 shares of the conglomerate’s stock valued at $1,963,000 after acquiring an additional 5,938 shares during the last quarter. Covalis Capital LLP acquired a new position in General Electric in the fourth quarter worth approximately $913,000. Dimensional Fund Advisors LP increased its holdings in shares of General Electric by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,470,557 shares of the conglomerate’s stock valued at $412,082,000 after buying an additional 63,968 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of General Electric by 2.1% during the 4th quarter. First Trust Advisors LP now owns 248,327 shares of the conglomerate’s stock worth $41,418,000 after acquiring an additional 5,198 shares in the last quarter. Finally, GeoWealth Management LLC raised its position in shares of General Electric by 5.9% during the fourth quarter. GeoWealth Management LLC now owns 10,641 shares of the conglomerate’s stock worth $1,775,000 after purchasing an additional 593 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 0.3 %

NYSE:GE opened at $181.88 on Friday. General Electric has a 12 month low of $146.78 and a 12 month high of $214.21. The company’s 50 day moving average is $196.12 and its 200-day moving average is $186.50. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $195.21 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE) last issued 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 return on equity of 22.19% and a net margin of 14.31%. Equities 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. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is an increase 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 annualized dividend and a dividend yield of 0.79%. General Electric’s payout ratio is presently 24.04%.

Analysts Set New Price Targets

Several research firms have issued reports on GE. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Redburn Atlantic started coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Citigroup decreased their target price on General Electric from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Northcoast Research raised shares of General Electric from a “neutral” rating to a “buy” rating and set a $205.00 price target for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.33.

General Electric Company 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.