Asset Management One Co. Ltd. Increases Stake in General Electric (NYSE:GE)

Asset Management One Co. Ltd. lifted its holdings in shares of General Electric (NYSE:GE) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 443,365 shares of the conglomerate’s stock after purchasing an additional 10,254 shares during the period. Asset Management One Co. Ltd.’s holdings in General Electric were worth $75,408,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC increased its holdings in shares of General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after buying an additional 146 shares during the period. Johnson & White Wealth Management LLC purchased a new position in General Electric in the 4th quarter worth approximately $733,000. State Street Corp lifted its position in General Electric by 2.1% in the third 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 during the last quarter. Soltis Investment Advisors LLC boosted its stake in shares of General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after purchasing an additional 20,575 shares during the period. Finally, World Investment Advisors LLC grew its holdings in shares of General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after purchasing an additional 5,162 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.6 %

Shares of General Electric stock opened at $208.35 on Friday. General Electric has a 1 year low of $113.88 and a 1 year high of $211.42. The firm has a market cap of $223.62 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.56 and a beta of 1.22. The company has a 50-day moving average of $181.29 and a 200 day moving average of $178.78. 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 announced its earnings results 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 net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts anticipate that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.54%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 18.70%.

Insider Transactions 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 shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GE shares. Melius Research increased their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Bank of America boosted their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Citigroup boosted their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $208.73.

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.