General Electric (NYSE:GE) Stake Cut by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of General Electric (NYSE:GE) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 515,358 shares of the conglomerate’s stock after selling 68,622 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in General Electric were worth $85,957,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GE. Vanguard Group Inc. grew its stake in shares of General Electric by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock worth $14,980,297,000 after purchasing an additional 410,172 shares in the last quarter. State Street Corp raised 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 worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after acquiring an additional 156,272 shares during the period. Jennison Associates LLC boosted its holdings in shares of General Electric by 1.4% in the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after acquiring an additional 106,891 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of General Electric by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock valued at $1,128,571,000 after acquiring an additional 115,257 shares during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup upped their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Redburn Atlantic began coverage on General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Bank of America boosted their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, UBS Group raised their price objective 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. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Up 3.1 %

Shares of NYSE GE opened at $210.56 on Tuesday. The stock has a market cap of $225.99 billion, a PE ratio of 35.15, a PEG 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 fifty day moving average of $199.41 and a two-hundred day moving average of $185.47. General Electric has a 52-week low of $133.99 and a 52-week high of $212.19.

General Electric (NYSE:GE) last posted 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 net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts expect 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 given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.68%. The ex-dividend date is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

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.