General Electric (NYSE:GE) Holdings Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of General Electric (NYSE:GE) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,918 shares of the conglomerate’s stock after buying an additional 7,213 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in General Electric were worth $22,169,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tsfg LLC lifted its holdings in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 55 shares during the last quarter. Red Door Wealth Management LLC increased its position in shares of General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 56 shares during the period. Saxon Interests Inc. grew its position in General Electric by 4.2% in the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after acquiring an additional 57 shares during the last quarter. Strategic Advisors LLC grew its position in General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 58 shares during the last quarter. Finally, Old North State Wealth Management LLC increased its stake in shares of General Electric by 3.0% in the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after buying an additional 58 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on GE shares. JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased 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. Melius Research raised their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Citigroup lifted 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. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Performance

NYSE GE opened at $206.00 on Friday. The firm has a market cap of $222.95 billion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 2.53 and a beta of 1.21. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $178.72 and a 200-day moving average price of $177.35. General Electric has a twelve month low of $110.34 and a twelve month high of $207.65.

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, topping 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, equities research analysts predict that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, December 27th. General Electric’s payout ratio is presently 18.70%.

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.