Mitsubishi UFJ Trust & Banking Corp Trims Stock Position in General Electric (NYSE:GE)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in General Electric (NYSE:GE) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 515,358 shares of the conglomerate’s stock after selling 68,622 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in General Electric were worth $85,957,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GE. RPg Family Wealth Advisory LLC purchased a new stake in shares of General Electric in the third quarter valued at about $30,000. Hager Investment Management Services LLC acquired a new position in General Electric during the 4th quarter worth approximately $27,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Electric during the 4th quarter worth approximately $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Electric in the 4th quarter valued at approximately $29,000. Finally, Picton Mahoney Asset Management boosted 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 buying an additional 68 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on GE shares. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Redburn Atlantic assumed coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Citigroup raised their price target on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company lifted their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

GE stock opened at $210.56 on Tuesday. The firm has a market cap of $225.99 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a 1 year low of $133.99 and a 1 year high of $212.19. The stock has a 50-day simple moving average of $199.41 and a 200-day simple moving average of $185.47.

General Electric (NYSE:GE) last issued 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 net margin of 14.31% and a return on equity of 22.19%. On average, equities analysts predict that General Electric will post 5.4 earnings per share 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 issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.68%. General Electric’s dividend payout ratio is currently 24.04%.

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.