Amundi Decreases Stock Position in General Electric (NYSE:GE)

Amundi lessened its stake in General Electric (NYSE:GE) by 50.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,428,535 shares of the conglomerate’s stock after selling 1,460,199 shares during the quarter. Amundi’s holdings in General Electric were worth $246,979,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its position in shares of General Electric by 2.1% in the 3rd 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 in the last quarter. Geode Capital Management LLC raised its position 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 valued at $4,244,676,000 after purchasing an additional 156,272 shares in the last quarter. Jennison Associates LLC raised its position in shares of General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after purchasing an additional 106,891 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of General Electric by 1.7% in the 4th 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 purchasing an additional 115,257 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of General Electric by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock valued at $1,122,966,000 after purchasing an additional 202,233 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent analyst reports. 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 research report on Friday, January 24th. Bank of America upped their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Northcoast Research started coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Wells Fargo & Company upped their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

Shares of NYSE GE opened at $194.08 on Monday. General Electric has a 1-year low of $130.38 and a 1-year high of $212.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The business’s fifty day moving average price is $193.02 and its two-hundred day moving average price is $183.20. The firm has a market capitalization of $208.31 billion, a PE ratio of 32.40, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last issued its earnings results 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, research analysts expect that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.74%. General Electric’s dividend payout ratio 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.