General Electric (NYSE:GE) Shares Bought by TIAA Trust National Association

TIAA Trust National Association boosted its stake in General Electric (NYSE:GE) by 6.8% during the 4th quarter, HoldingsChannel reports. The fund owned 111,537 shares of the conglomerate’s stock after buying an additional 7,120 shares during the period. TIAA Trust National Association’s holdings in General Electric were worth $18,604,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric in the 3rd quarter worth approximately $30,000. Hager Investment Management Services LLC acquired a new stake in shares of General Electric during the 4th quarter valued at approximately $27,000. Sugar Maple Asset Management LLC bought a new position in General Electric during the fourth quarter worth $29,000. CBIZ Investment Advisory Services LLC acquired a new position in General Electric in the fourth quarter worth $29,000. Finally, Picton Mahoney Asset Management increased its stake in General Electric by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Up 0.9 %

Shares of NYSE:GE opened at $212.18 on Wednesday. The company has a 50 day moving average of $200.12 and a 200-day moving average of $185.83. 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 firm has a market cap of $227.73 billion, a P/E ratio of 35.42, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a twelve month low of $133.99 and a twelve month high of $212.76.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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, analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared 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. The ex-dividend date is Monday, March 10th. 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 0.68%. General Electric’s payout ratio is 24.04%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Redburn Atlantic initiated coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Citigroup upped their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, Wells Fargo & Company upped 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. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Company 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.