Massachusetts Financial Services Co. MA Has $620.83 Million Position in General Electric (NYSE:GE)

Massachusetts Financial Services Co. MA trimmed its position in shares of General Electric (NYSE:GE) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,722,230 shares of the conglomerate’s stock after selling 384,556 shares during the period. Massachusetts Financial Services Co. MA’s holdings in General Electric were worth $620,831,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. RFG Bristol Wealth Advisors LLC bought a new stake in General Electric in the 4th quarter valued at $224,000. Meeder Advisory Services Inc. boosted its position in shares of General Electric by 0.9% during the 4th quarter. Meeder Advisory Services Inc. now owns 21,653 shares of the conglomerate’s stock valued at $3,611,000 after acquiring an additional 187 shares in the last quarter. May Hill Capital LLC bought a new stake in General Electric in the fourth quarter valued at about $289,000. Headlands Technologies LLC increased its stake in General Electric by 22.0% in the fourth quarter. Headlands Technologies LLC now owns 9,343 shares of the conglomerate’s stock valued at $1,558,000 after acquiring an additional 1,682 shares during the period. Finally, Invenio Wealth Partners LLC raised its position in General Electric by 3.6% in the fourth quarter. Invenio Wealth Partners LLC now owns 2,126 shares of the conglomerate’s stock worth $355,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GE. UBS Group lifted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Bank of America boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company boosted their price target on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Down 2.0 %

Shares of GE opened at $199.80 on Thursday. The business’s fifty day moving average price is $202.43 and its two-hundred day moving average price is $187.12. The firm has a market capitalization of $214.44 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a 52 week low of $138.01 and a 52 week high of $214.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

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%. On average, analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.72%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is currently 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.