Blueshift Asset Management LLC Buys New Position in General Electric (NYSE:GE)

Blueshift Asset Management LLC purchased a new position in shares of General Electric (NYSE:GE) during the fourth quarter, Holdings Channel.com reports. The fund purchased 2,082 shares of the conglomerate’s stock, valued at approximately $347,000.

A number of other institutional investors also recently made changes to their positions in GE. Janus Henderson Group PLC grew its stake in shares of General Electric by 505.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after purchasing an additional 1,593,413 shares during the last quarter. Raymond James Financial Inc. acquired a new position in General Electric in the fourth quarter worth approximately $194,208,000. Franklin Resources Inc. increased its holdings in shares of General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after buying an additional 973,135 shares in the last quarter. State Street Corp lifted its position in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of General Electric by 15,750.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 768,588 shares of the conglomerate’s stock worth $138,368,000 after acquiring an additional 763,739 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Redburn Atlantic initiated coverage on shares of General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company raised their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Up 0.0 %

Shares of General Electric stock opened at $203.99 on Friday. The stock has a 50-day simple moving average of $198.63 and a 200-day simple moving average of $184.87. General Electric has a 52-week low of $133.99 and a 52-week high of $212.19. The firm has a market cap of $218.94 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 2.59 and a beta of 1.19. 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 (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, equities research analysts expect that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business 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 is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.71%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is 24.04%.

General Electric 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.