Forsta AP Fonden Raises Position in General Electric (NYSE:GE)

Forsta AP Fonden increased its position in shares of General Electric (NYSE:GE) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 320,625 shares of the conglomerate’s stock after purchasing an additional 2,500 shares during the period. Forsta AP Fonden’s holdings in General Electric were worth $53,477,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp acquired a new position in General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the third quarter worth $27,000. Peterson Financial Group Inc. purchased a new position in General Electric in the third quarter worth $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in General Electric in the third quarter valued at $30,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on GE shares. 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 research note on Thursday, January 2nd. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Sanford C. Bernstein upped their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup lifted their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.73.

Insider Activity

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Performance

General Electric stock opened at $194.46 on Wednesday. The stock has a fifty day moving average price of $176.00 and a 200 day moving average price of $175.63. General Electric has a 52 week low of $103.75 and a 52 week high of $207.65. The firm has a market capitalization of $210.46 billion, a P/E ratio of 34.18, a PEG ratio of 1.53 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. Equities research analysts anticipate that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

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.