331,213 Shares in General Electric (NYSE:GE) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 331,213 shares of the conglomerate’s stock, valued at approximately $55,322,000.

Other institutional investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of General Electric in the 3rd quarter worth about $30,000. Hager Investment Management Services LLC purchased a new position in shares of General Electric in the 4th quarter worth about $27,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Electric in the 4th quarter worth about $29,000. CBIZ Investment Advisory Services LLC purchased a new position in General Electric in the 4th quarter worth about $29,000. Finally, Picton Mahoney Asset Management raised its position in General Electric by 62.4% in the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after buying an additional 68 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GE shares. Bank of America boosted their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic assumed coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Price Performance

NYSE:GE opened at $203.99 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $218.94 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 12 month low of $133.99 and a 12 month high of $212.19. The business’s 50-day moving average is $198.63 and its 200 day moving average is $184.87.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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%. On average, equities research analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.71%. The ex-dividend date is Monday, March 10th. General Electric’s payout ratio is presently 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.