General Electric (NYSE:GE) Stock Position Lifted by Pragma Gestao DE Patrimonio Ltd.

Pragma Gestao DE Patrimonio Ltd. increased its stake in General Electric (NYSE:GE) by 116.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 108,000 shares of the conglomerate’s stock after buying an additional 58,000 shares during the quarter. General Electric accounts for approximately 9.9% of Pragma Gestao DE Patrimonio Ltd.’s portfolio, making the stock its 4th largest holding. Pragma Gestao DE Patrimonio Ltd.’s holdings in General Electric were worth $18,013,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in shares of General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after acquiring an additional 1,593,413 shares during the period. Raymond James Financial Inc. bought a new position in General Electric in the 4th quarter worth about $194,208,000. Franklin Resources Inc. grew its holdings in General Electric by 206.5% during the 3rd 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 increased its position in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in shares of General Electric by 15,750.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 768,588 shares of the conglomerate’s stock valued at $138,368,000 after buying an additional 763,739 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on GE. Redburn Atlantic began coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. 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 research report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Trading Down 2.3 %

Shares of GE stock opened at $207.33 on Thursday. The business has a 50-day moving average of $200.66 and a 200 day moving average of $185.98. 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 $133.99 and a 1-year high of $214.21. The stock has a market capitalization of $222.53 billion, a PE ratio of 34.61, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced 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 a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is currently 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.