General Electric (NYSE:GE) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS raised its holdings in General Electric (NYSE:GE) by 40.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405,729 shares of the conglomerate’s stock after buying an additional 116,348 shares during the quarter. DnB Asset Management AS’s holdings in General Electric were worth $67,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GE. Norges Bank acquired a new stake in General Electric during the 4th quarter worth approximately $2,375,439,000. Janus Henderson Group PLC increased its position in shares of General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after acquiring an additional 1,593,413 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of General Electric in the 4th quarter valued at $194,208,000. Franklin Resources Inc. lifted its holdings in shares of General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after acquiring an additional 973,135 shares in the last quarter. Finally, State Street Corp boosted its position in 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. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

GE opened at $206.11 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 company has a market cap of $221.21 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The stock has a 50-day moving average of $201.18 and a 200-day moving average of $186.12. General Electric has a 52-week low of $133.99 and a 52-week high of $214.21.

General Electric (NYSE:GE) last announced 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, equities research analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GE shares. UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Redburn Atlantic began coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Two investment 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 has a consensus rating of “Moderate Buy” and an average 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.