Geode Capital Management LLC Has $3.85 Billion Stock Position in General Electric (NYSE:GE)

Geode Capital Management LLC lifted its position in shares of General Electric (NYSE:GE) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,117,418 shares of the conglomerate’s stock after acquiring an additional 529,457 shares during the quarter. Geode Capital Management LLC owned approximately 2.15% of General Electric worth $3,846,587,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Johnson & White Wealth Management LLC acquired a new position in General Electric in the 4th quarter valued at approximately $733,000. Chung Wu Investment Group LLC acquired a new stake in General Electric in the fourth quarter valued at $795,000. State Street Corp lifted its holdings in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares during the period. Soltis Investment Advisors LLC increased its stake in shares of General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after buying an additional 20,575 shares during the period. Finally, World Investment Advisors LLC raised its position in shares of General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after acquiring an additional 5,162 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.2 %

Shares of GE opened at $200.29 on Tuesday. The firm has a market cap of $214.97 billion, a P/E ratio of 33.44, 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. The business has a 50-day moving average of $201.87 and a 200 day moving average of $186.85. General Electric has a fifty-two week low of $133.99 and a fifty-two week high of $214.21.

General Electric (NYSE:GE) last announced 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 return on equity of 22.19% and a net margin of 14.31%. As a group, research analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 represents a $1.44 annualized dividend and a dividend yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

GE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Citigroup boosted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Redburn Atlantic began coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Finally, UBS Group upped their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

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.