ING Groep NV Cuts Stock Position in General Electric (NYSE:GE)

ING Groep NV lowered its stake in General Electric (NYSE:GE) by 61.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 97,963 shares of the conglomerate’s stock after selling 154,465 shares during the period. ING Groep NV’s holdings in General Electric were worth $16,339,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Foundations Investment Advisors LLC boosted its stake in General Electric by 5.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 10,364 shares of the conglomerate’s stock valued at $1,954,000 after purchasing an additional 513 shares during the last quarter. Private Advisor Group LLC boosted its stake in General Electric by 1.7% during the 3rd quarter. Private Advisor Group LLC now owns 98,308 shares of the conglomerate’s stock valued at $18,539,000 after purchasing an additional 1,670 shares during the last quarter. McAdam LLC boosted its stake in General Electric by 4.2% during the 3rd quarter. McAdam LLC now owns 2,542 shares of the conglomerate’s stock valued at $479,000 after purchasing an additional 103 shares during the last quarter. International Assets Investment Management LLC boosted its stake in General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after purchasing an additional 3,158,153 shares during the last quarter. Finally, Brighton Jones LLC boosted its stake in General Electric by 19.5% during the 3rd quarter. Brighton Jones LLC now owns 9,587 shares of the conglomerate’s stock valued at $1,808,000 after purchasing an additional 1,567 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE:GE opened at $208.93 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 $224.24 billion, a P/E ratio of 34.88, a P/E/G ratio of 2.61 and a beta of 1.22. General Electric has a 12 month low of $118.13 and a 12 month high of $212.19. The business’s 50-day moving average is $185.89 and its 200 day moving average is $180.43.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. 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 0.69%. General Electric’s payout ratio is presently 18.70%.

Analyst Upgrades and Downgrades

Several analysts have commented on GE shares. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company lifted their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

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.