PGGM Investments Increases Position in General Electric (NYSE:GE)

PGGM Investments increased its stake in shares of General Electric (NYSE:GE) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,805 shares of the conglomerate’s stock after buying an additional 9,925 shares during the quarter. PGGM Investments’ holdings in General Electric were worth $17,480,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new position in shares of General Electric in the 3rd quarter valued at approximately $25,000. Hager Investment Management Services LLC acquired a new stake in shares of General Electric during the fourth quarter worth $27,000. Peterson Financial Group Inc. acquired a new stake in shares of General Electric during the third quarter worth $28,000. Sugar Maple Asset Management LLC purchased a new position in General Electric in the 4th quarter valued at $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in General Electric in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of several recent analyst reports. Redburn Atlantic assumed coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. UBS Group increased their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Trading Up 1.8 %

Shares of GE stock opened at $195.21 on Thursday. General Electric has a fifty-two week low of $131.91 and a fifty-two week high of $212.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $194.56 and a 200-day simple moving average of $183.58. The stock has a market cap of $209.52 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, 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. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Monday, March 10th. General Electric’s payout ratio is currently 24.04%.

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.