Royal London Asset Management Ltd. Has $79.23 Million Stock Position in General Electric (NYSE:GE)

Royal London Asset Management Ltd. reduced its holdings in General Electric (NYSE:GE) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 475,017 shares of the conglomerate’s stock after selling 1,828 shares during the quarter. Royal London Asset Management Ltd.’s holdings in General Electric were worth $79,228,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the 4th quarter valued at $27,000. Sugar Maple Asset Management LLC acquired a new stake in General Electric in the fourth quarter worth $29,000. CBIZ Investment Advisory Services LLC bought a new stake in General Electric in the fourth quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric during the third quarter valued at about $30,000. Finally, Picton Mahoney Asset Management boosted its position in shares of General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $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

Shares of General Electric stock opened at $205.67 on Thursday. The business’s fifty day simple moving average is $197.36 and its 200 day simple moving average is $184.53. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 12 month low of $133.99 and a 12 month high of $212.19. The firm has a market capitalization of $220.75 billion, a P/E ratio of 34.34, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 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, 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. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is an increase 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 0.70%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is currently 24.04%.

Analyst Ratings Changes

A number of research firms recently weighed in on GE. Redburn Atlantic started coverage on General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Bank of America lifted their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric 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.