iA Global Asset Management Inc. Grows Position in General Electric (NYSE:GE)

iA Global Asset Management Inc. raised its position in shares of General Electric (NYSE:GE) by 109.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 175,797 shares of the conglomerate’s stock after buying an additional 91,936 shares during the quarter. iA Global Asset Management Inc.’s holdings in General Electric were worth $29,321,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Johnson & White Wealth Management LLC acquired a new position in shares of General Electric during the fourth quarter valued at about $733,000. Chung Wu Investment Group LLC acquired a new stake in shares of General Electric during the 4th quarter worth approximately $795,000. State Street Corp grew its stake in shares of General Electric by 2.1% during the 3rd 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 period. Soltis Investment Advisors LLC lifted its position in shares of General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after buying an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC lifted its position in shares of General Electric by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after buying an additional 5,162 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Up 2.4 %

Shares of NYSE:GE opened at $205.67 on Thursday. The firm’s 50-day moving average is $197.36 and its two-hundred day moving average is $184.53. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a 1 year low of $133.99 and a 1 year high of $212.19. The firm has a market capitalization of $220.75 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19.

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 net margin of 14.31% and a return on equity of 22.19%. Analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.70%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is presently 24.04%.

Wall Street Analyst Weigh In

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