Asset Management One Co. Ltd. Boosts Stake in General Electric (NYSE:GE)

Asset Management One Co. Ltd. lifted its holdings in General Electric (NYSE:GE) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 443,365 shares of the conglomerate’s stock after buying an additional 10,254 shares during the period. Asset Management One Co. Ltd.’s holdings in General Electric were worth $75,408,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its position in General Electric by 2.1% in 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 last quarter. Geode Capital Management LLC raised its stake in shares of General Electric by 0.7% during the 3rd 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 boosted its holdings in shares of General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after buying an additional 106,891 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 valued at $1,236,428,000 after buying an additional 413,388 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings 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 buying an additional 457,038 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

NYSE GE opened at $208.35 on Friday. The company’s 50 day simple moving average is $181.29 and its two-hundred day simple moving average is $178.78. The stock has a market capitalization of $223.62 billion, a PE ratio of 34.78, a P/E/G ratio of 2.56 and a beta of 1.22. 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 1 year low of $113.88 and a 1 year high of $211.42.

General Electric (NYSE:GE) last posted its quarterly earnings data 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%. Analysts predict that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 18.70%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GE. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. increased their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. 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 research note on Monday, January 27th. Finally, Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $208.73.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by insiders.

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.