Capital World Investors Reduces Stake in General Electric (NYSE:GE)

Capital World Investors trimmed its position in shares of General Electric (NYSE:GE) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,209,154 shares of the conglomerate’s stock after selling 2,055,898 shares during the quarter. Capital World Investors owned approximately 1.88% of General Electric worth $3,370,786,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Truvestments Capital LLC grew its stake in General Electric by 26.2% in the 4th quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 49 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of General Electric by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate’s stock worth $56,000 after acquiring an additional 50 shares during the last quarter. Ballast Advisors LLC boosted its stake in shares of General Electric by 2.5% during the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after acquiring an additional 51 shares during the last quarter. Blue Barn Wealth LLC raised its stake in General Electric by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after purchasing an additional 54 shares during the last quarter. Finally, Game Plan Financial Advisors LLC boosted its stake in shares of General Electric by 10.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Down 0.3 %

GE stock opened at $181.88 on Friday. The firm has a fifty day moving average price of $196.12 and a two-hundred day moving average price of $186.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a 1-year low of $146.78 and a 1-year high of $214.21. The firm has a market cap of $195.21 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company 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 is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.79%. General Electric’s dividend payout ratio is 24.04%.

Analyst Ratings Changes

Several analysts have commented on the company. Wells Fargo & Company lifted their price target on General Electric from $203.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday. 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. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Citigroup dropped their price objective on shares of General Electric from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Bank of America upped their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $213.33.

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.