Intrust Bank NA Raises Stake in General Electric (NYSE:GE)

Intrust Bank NA lifted its stake in shares of General Electric (NYSE:GE) by 46.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,937 shares of the conglomerate’s stock after purchasing an additional 1,573 shares during the quarter. Intrust Bank NA’s holdings in General Electric were worth $823,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GE. Vanguard Group Inc. increased its holdings in General Electric by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock valued at $14,980,297,000 after buying an additional 410,172 shares in the last quarter. State Street Corp raised its holdings in General Electric by 2.1% during 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 during the last quarter. Geode Capital Management LLC raised its holdings in General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the last quarter. Norges Bank acquired a new stake in General Electric in the fourth quarter valued at $2,375,439,000. Finally, Jennison Associates LLC grew its holdings in 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 purchasing an additional 106,891 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GE. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. 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. Redburn Atlantic assumed coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Finally, Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Price Performance

GE opened at $199.66 on Friday. 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 stock has a market capitalization of $214.29 billion, a PE ratio of 33.33, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 1 year low of $133.99 and a 1 year high of $214.21. The company’s 50 day simple moving average is $201.52 and its 200 day simple moving average is $186.50.

General Electric (NYSE:GE) last released its quarterly earnings data 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%. As a group, sell-side analysts expect that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is currently 24.04%.

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.