Sumitomo Mitsui Financial Group Inc. Invests $28,000 in General Electric (NYSE:GE)

Sumitomo Mitsui Financial Group Inc. bought a new stake in General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 165 shares of the conglomerate’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of General Electric in the fourth quarter worth $2,375,439,000. Raymond James Financial Inc. acquired a new stake in General Electric during the fourth quarter worth about $194,208,000. Franklin Resources Inc. increased its holdings in General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after buying an additional 973,135 shares during the period. FMR LLC raised its position in shares of General Electric by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the conglomerate’s stock valued at $11,145,570,000 after buying an additional 965,012 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of General Electric by 15,750.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 768,588 shares of the conglomerate’s stock worth $138,368,000 after acquiring an additional 763,739 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Bank of America boosted their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Wells Fargo & Company increased their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, UBS Group lifted their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $214.73.

General Electric Trading Down 11.1 %

NYSE GE opened at $166.76 on Monday. The firm has a market capitalization of $178.98 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The business’s 50-day moving average price is $201.56 and its two-hundred day moving average price is $187.10. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 12 month low of $146.78 and a 12 month high of $214.21.

General Electric (NYSE:GE) last announced its earnings results 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%. On average, analysts expect that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company 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 dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.86%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 24.04%.

General Electric 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.