Invesco Ltd. Buys 1,204,910 Shares of General Electric (NYSE:GE)

Invesco Ltd. increased its position in shares of General Electric (NYSE:GE) by 14.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,544,757 shares of the conglomerate’s stock after purchasing an additional 1,204,910 shares during the period. Invesco Ltd. owned approximately 0.89% of General Electric worth $1,591,970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Johnson & White Wealth Management LLC acquired a new position in General Electric in the fourth quarter valued at approximately $733,000. Chung Wu Investment Group LLC purchased a new position in shares of General Electric during the 4th quarter valued at about $795,000. Soltis Investment Advisors LLC increased its stake in General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after purchasing an additional 20,575 shares during the period. National Bank of Canada FI increased its position in General Electric by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the conglomerate’s stock valued at $177,535,000 after purchasing an additional 29,844 shares during the period. Finally, World Investment Advisors LLC lifted its position in General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after buying an additional 5,162 shares during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GE. Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the stock 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 research report on Wednesday, January 22nd. Citigroup increased their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company lifted their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $214.73.

General Electric Price Performance

Shares of NYSE:GE opened at $166.76 on Monday. The company has a 50-day moving average price of $201.56 and a 200 day moving average price of $187.10. General Electric has a 52 week low of $146.78 and a 52 week high of $214.21. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market cap of $178.98 billion, a P/E ratio of 27.84, a PEG ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE) last announced 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%. Research analysts predict that General Electric will post 5.4 earnings per share 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. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.86%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is 24.04%.

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.