General Electric (NYSE:GE) Stock Holdings Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in shares of General Electric (NYSE:GE) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,722,230 shares of the conglomerate’s stock after selling 384,556 shares during the period. Massachusetts Financial Services Co. MA owned about 0.35% of General Electric worth $620,831,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Johnson & White Wealth Management LLC acquired a new stake in shares of General Electric during the fourth quarter valued at approximately $733,000. Chung Wu Investment Group LLC purchased a new position in shares of General Electric during the fourth quarter valued at $795,000. State Street Corp lifted its stake in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC boosted its position in General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after acquiring an additional 20,575 shares during the period. Finally, World Investment Advisors LLC grew its stake in General Electric by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after acquiring an additional 5,162 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Redburn Atlantic began 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. UBS Group increased their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Citigroup boosted their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Northcoast Research initiated coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Finally, Bank of America boosted their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Performance

NYSE:GE opened at $199.80 on Thursday. The firm has a market capitalization of $214.44 billion, a PE ratio of 33.36, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a 1 year low of $138.01 and a 1 year high of $214.21. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm’s fifty day simple moving average is $202.43 and its 200 day simple moving average is $187.12.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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, sell-side analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This is a positive change 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 0.72%. General Electric’s payout ratio is 24.04%.

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.