Premier Fund Managers Ltd Takes $8.23 Million Position in General Electric (NYSE:GE)

Premier Fund Managers Ltd bought a new position in shares of General Electric (NYSE:GE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 49,000 shares of the conglomerate’s stock, valued at approximately $8,233,000.

Several other large investors have also recently bought and sold shares of GE. Norges Bank acquired a new stake in General Electric during the fourth quarter valued at approximately $2,375,439,000. Janus Henderson Group PLC increased its stake in shares of General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after purchasing an additional 1,593,413 shares during the period. Raymond James Financial Inc. bought a new position in shares of General Electric during the fourth quarter worth approximately $194,208,000. Franklin Resources Inc. grew its stake in General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after buying an additional 973,135 shares in the last quarter. Finally, State Street Corp raised its holdings 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 worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Down 0.6 %

Shares of General Electric stock opened at $206.11 on Friday. 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 $214.21. The firm has a market capitalization of $221.21 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.59 and a beta of 1.19. The firm’s 50 day simple moving average is $201.18 and its two-hundred day simple moving average is $186.12.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.70%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 24.04%.

Analyst Upgrades and Downgrades

GE has been the subject of several analyst reports. Citigroup raised their price target on shares of 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 began coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. UBS Group lifted their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.