Envestnet Asset Management Inc. Buys 112,849 Shares of General Electric (NYSE:GE)

Envestnet Asset Management Inc. raised its stake in General Electric (NYSE:GE) by 9.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,276,696 shares of the conglomerate’s stock after buying an additional 112,849 shares during the period. Envestnet Asset Management Inc. owned 0.12% of General Electric worth $212,940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in General Electric by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock worth $14,980,297,000 after acquiring an additional 410,172 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of General Electric by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate’s stock worth $3,846,587,000 after purchasing an additional 529,457 shares during the last quarter. Norges Bank acquired a new position in shares of General Electric in the fourth quarter valued at approximately $2,375,439,000. Jennison Associates LLC raised its holdings in General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after buying an additional 106,891 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in General Electric by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock worth $1,128,571,000 after buying an additional 115,257 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE GE opened at $166.76 on Monday. 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 capitalization of $178.98 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. General Electric has a 52-week low of $146.78 and a 52-week high of $214.21. The company has a 50-day simple moving average of $201.56 and a 200 day simple moving average of $187.10.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 return on equity of 22.19% and a net margin of 14.31%. On average, research analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a $0.36 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s payout ratio is currently 24.04%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GE. 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. JPMorgan Chase & Co. increased their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Bank of America lifted their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $214.73.

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.