Nomura Asset Management Co. Ltd. Has $63.38 Million Stock Position in General Electric (NYSE:GE)

Nomura Asset Management Co. Ltd. lessened its position in shares of General Electric (NYSE:GE) by 0.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 379,988 shares of the conglomerate’s stock after selling 1,426 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in General Electric were worth $63,378,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in General Electric by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock worth $14,980,297,000 after buying an additional 410,172 shares during the last quarter. State Street Corp boosted 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 purchasing an additional 898,296 shares in the last quarter. Geode Capital Management LLC grew its stake in General Electric by 0.7% during the third 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. Norges Bank acquired a new position in General Electric in the fourth quarter valued at approximately $2,375,439,000. Finally, Jennison Associates LLC boosted its holdings in shares of General Electric by 1.4% during 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 in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 3.0 %

Shares of NYSE:GE opened at $199.66 on Friday. General Electric has a 1 year low of $133.99 and a 1 year high of $214.21. The company has a market capitalization of $214.29 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The business has a fifty day moving average price of $201.52 and a two-hundred day moving average price of $186.36. 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 quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. Analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently disclosed 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 represents a $1.44 annualized dividend and a yield of 0.72%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GE. UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Citigroup upped their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $211.31.

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.