Colonial River Investments LLC Increases Stock Position in General Electric (NYSE:GE)

Colonial River Investments LLC grew its stake in shares of General Electric (NYSE:GE) by 8.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,825 shares of the conglomerate’s stock after buying an additional 220 shares during the quarter. Colonial River Investments LLC’s holdings in General Electric were worth $471,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. 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. Geode Capital Management LLC boosted its position in General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the period. Jennison Associates LLC boosted its position in General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after purchasing an additional 106,891 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in General Electric by 6.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after purchasing an additional 413,388 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in General Electric by 12.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock worth $774,458,000 after purchasing an additional 457,038 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of General Electric stock opened at $199.90 on Monday. The firm has a market cap of $214.55 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. The firm’s 50-day simple moving average is $186.57 and its 200-day simple moving average is $180.98. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a 1 year low of $119.88 and a 1 year high of $212.19.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 18.70%.

Analysts Set New Price Targets

A number of analysts recently weighed in on GE shares. Bank of America upped their price target 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. Deutsche Bank Aktiengesellschaft decreased 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. Citigroup boosted their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

About General Electric

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.