Invesco Ltd. Has $1.59 Billion Stake in General Electric (NYSE:GE)

Invesco Ltd. increased its stake in shares of General Electric (NYSE:GE) by 14.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,544,757 shares of the conglomerate’s stock after acquiring an additional 1,204,910 shares during the quarter. Invesco Ltd.’s holdings in General Electric were worth $1,591,970,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. New Age Alpha Advisors LLC boosted its stake in General Electric by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 84 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the 4th quarter valued at about $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in General Electric in the fourth quarter worth approximately $28,000. Sugar Maple Asset Management LLC acquired a new position in shares of General Electric during the fourth quarter worth approximately $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new position in shares of General Electric during the fourth quarter valued at approximately $29,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Citigroup lifted their price target on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Redburn Atlantic initiated coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.73.

General Electric Price Performance

Shares of GE opened at $166.76 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a fifty day moving average price of $201.56 and a 200 day moving average price of $187.10. 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 has a 12 month low of $146.78 and a 12 month high of $214.21.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating 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, research analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business 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 $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.86%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is currently 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.