Denver PWM LLC Cuts Position in General Electric (NYSE:GE)

Denver PWM LLC decreased its holdings in General Electric (NYSE:GE) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 682 shares of the conglomerate’s stock after selling 168 shares during the quarter. Denver PWM LLC’s holdings in General Electric were worth $114,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GE. Jennison Associates LLC boosted its stake in shares of General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC boosted 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 valued at $359,882,000 after acquiring an additional 1,593,413 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after acquiring an additional 973,135 shares during the last quarter. State Street Corp boosted its stake in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in General Electric by 12.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock valued at $774,458,000 after buying an additional 457,038 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on GE shares. Wells Fargo & Company lifted their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Northcoast Research began coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Finally, Citigroup boosted their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

General Electric stock opened at $199.90 on Friday. The stock’s 50 day moving average price is $186.57 and its 200 day moving average price is $180.85. General Electric has a one year low of $119.88 and a one year high of $212.19. The firm has a market capitalization of $214.55 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. 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 earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. As a group, sell-side analysts expect that General Electric will post 5.4 EPS for the current fiscal 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. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is presently 18.70%.

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.