General Electric (NYSE:GE) Stock Position Lessened by Kidder Stephen W

Kidder Stephen W reduced its stake in shares of General Electric (NYSE:GE) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,315 shares of the conglomerate’s stock after selling 70 shares during the quarter. Kidder Stephen W’s holdings in General Electric were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of General Electric in the 4th quarter worth approximately $2,375,439,000. Raymond James Financial Inc. acquired a new stake in General Electric in the fourth quarter worth approximately $194,208,000. Franklin Resources Inc. boosted its stake in General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after purchasing an additional 973,135 shares in the last quarter. State Street Corp increased its position in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in shares of General Electric by 15,750.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 768,588 shares of the conglomerate’s stock valued at $138,368,000 after purchasing an additional 763,739 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Bank of America upped their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a 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. Deutsche Bank Aktiengesellschaft reduced their target price 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. Finally, Citigroup upped their price target on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Trading Down 6.2 %

Shares of General Electric stock opened at $187.30 on Friday. General Electric has a 52-week low of $146.21 and a 52-week high of $214.21. The firm has a market capitalization of $201.03 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. 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 company’s fifty day moving average price is $202.16 and its two-hundred day moving average price is $187.13.

General Electric (NYSE:GE) last posted its earnings results 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 net margin of 14.31% and a return on equity of 22.19%. On average, analysts expect 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 given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 24.04%.

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.