AMF Tjanstepension AB Takes $76.60 Million Position in General Electric (NYSE:GE)

AMF Tjanstepension AB purchased a new position in shares of General Electric (NYSE:GE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 459,248 shares of the conglomerate’s stock, valued at approximately $76,598,000.

A number of other large investors also recently bought and sold shares of the business. Avidian Wealth Enterprises LLC boosted its stake in shares of General Electric by 7.3% during the third quarter. Avidian Wealth Enterprises LLC now owns 2,341 shares of the conglomerate’s stock valued at $441,000 after purchasing an additional 160 shares during the period. Graypoint LLC lifted its holdings in General Electric by 8.2% during the 3rd quarter. Graypoint LLC now owns 8,342 shares of the conglomerate’s stock valued at $1,573,000 after buying an additional 634 shares in the last quarter. Cozad Asset Management Inc. boosted its position in General Electric by 23.7% in the 3rd quarter. Cozad Asset Management Inc. now owns 1,738 shares of the conglomerate’s stock valued at $328,000 after buying an additional 333 shares during the period. Principal Financial Group Inc. boosted its position in General Electric by 3.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,323,553 shares of the conglomerate’s stock valued at $249,596,000 after buying an additional 48,543 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its stake in General Electric by 4.5% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 7,522 shares of the conglomerate’s stock worth $1,418,000 after acquiring an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 1.0 %

NYSE:GE opened at $194.08 on Friday. The stock has a market capitalization of $208.31 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a 52 week low of $130.38 and a 52 week high of $212.19. 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 firm has a 50 day moving average of $193.02 and a 200 day moving average of $183.02.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate 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 anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Bank of America lifted their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.31.

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.