Pettyjohn Wood & White Inc. Raises Position in General Electric (NYSE:GE)

Pettyjohn Wood & White Inc. increased its position in shares of General Electric (NYSE:GE) by 8.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,308 shares of the conglomerate’s stock after buying an additional 259 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in General Electric were worth $552,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its position in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Geode Capital Management LLC raised its holdings in General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after purchasing an additional 156,272 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after buying an additional 106,891 shares during the period. Bank of New York Mellon Corp boosted its position in shares of General Electric by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock worth $1,128,571,000 after purchasing an additional 115,257 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in General Electric by 6.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after buying an additional 413,388 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GE. 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. Wells Fargo & Company boosted their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Citigroup lifted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. 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 report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Trading Down 0.1 %

Shares of General Electric stock opened at $201.40 on Friday. The company has a 50-day simple moving average of $189.46 and a 200 day simple moving average of $181.72. 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 stock has a market capitalization of $216.17 billion, a P/E ratio of 33.62, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. General Electric has a 12-month low of $123.06 and a 12-month high of $212.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Research analysts expect that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio 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.