Bank of Marin Takes $246,000 Position in General Electric (NYSE:GE)

Bank of Marin purchased a new stake in General Electric (NYSE:GE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,475 shares of the conglomerate’s stock, valued at approximately $246,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares during the period. Janus Henderson Group PLC boosted its position in shares of General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after purchasing an additional 1,593,413 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of General Electric during the 4th quarter valued at about $194,208,000. Franklin Resources Inc. boosted its holdings in shares of General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after buying an additional 973,135 shares during the period. Finally, State Street Corp lifted its position in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. UBS Group lifted their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Finally, Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Performance

Shares of GE stock opened at $200.74 on Wednesday. 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 stock has a market cap of $215.45 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The stock has a 50-day moving average of $196.70 and a 200-day moving average of $184.38. General Electric has a one year low of $133.99 and a one year high of $212.19.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (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%. As a group, sell-side analysts expect that General Electric will post 5.4 earnings per share 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 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 dividend yield of 0.72%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is currently 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.