Andra AP fonden Makes New Investment in General Electric (NYSE:GE)

Andra AP fonden purchased a new stake in shares of General Electric (NYSE:GE) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 48,800 shares of the conglomerate’s stock, valued at approximately $8,139,000.

Several other large investors have also recently modified their holdings of GE. Cozad Asset Management Inc. raised its holdings in General Electric by 23.7% in the third quarter. Cozad Asset Management Inc. now owns 1,738 shares of the conglomerate’s stock worth $328,000 after buying an additional 333 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in General Electric by 4.5% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 7,522 shares of the conglomerate’s stock worth $1,418,000 after acquiring an additional 325 shares during the last quarter. Leavell Investment Management Inc. raised its holdings in General Electric by 70.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 8,469 shares of the conglomerate’s stock worth $1,599,000 after acquiring an additional 3,512 shares during the last quarter. CWA Asset Management Group LLC bought a new position in General Electric in the 3rd quarter valued at approximately $798,000. Finally, Pragma Gestao DE Patrimonio Ltd. purchased a new stake in General Electric during the 3rd quarter valued at $9,429,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE GE opened at $194.08 on Friday. The business’s fifty day moving average is $193.02 and its 200 day moving average is $183.11. General Electric has a fifty-two week low of $130.38 and a fifty-two week high of $212.19. 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 $208.31 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating 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%. Sell-side analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. The ex-dividend date is Monday, March 10th. 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 dividend yield of 0.74%. General Electric’s dividend payout ratio is 24.04%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Citigroup upped their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Bank of America lifted their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Redburn Atlantic assumed coverage on shares of General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average 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.