Aviva PLC Decreases Stock Position in General Electric (NYSE:GE)

Aviva PLC trimmed its position in shares of General Electric (NYSE:GE) by 12.9% in the 4th quarter, Holdings Channel reports. The firm owned 653,654 shares of the conglomerate’s stock after selling 96,619 shares during the period. Aviva PLC’s holdings in General Electric were worth $109,023,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC raised its position in shares of General Electric by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after buying an additional 84 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in General Electric in the 4th quarter valued at about $27,000. Sugar Maple Asset Management LLC purchased a new position in General Electric in the 4th quarter worth approximately $29,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of General Electric during the 4th quarter worth approximately $29,000. Finally, Picton Mahoney Asset Management grew its position in shares of General Electric by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 68 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

NYSE GE opened at $166.76 on Friday. The company has a market cap of $178.98 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.59 and a beta of 1.04. General Electric has a 1-year low of $146.78 and a 1-year high of $214.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a 50-day moving average of $201.56 and a two-hundred day moving average of $187.02.

General Electric (NYSE:GE) last released 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 net margin of 14.31% and a return on equity of 22.19%. As a group, analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business 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 annualized dividend and a yield of 0.86%. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GE shares. JPMorgan Chase & Co. lifted 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. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic started coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.