General Electric (NYSE:GE) Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. raised its position in General Electric (NYSE:GE) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,610 shares of the conglomerate’s stock after purchasing an additional 171 shares during the period. Bridges Investment Management Inc.’s holdings in General Electric were worth $1,603,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GE. Jennison Associates LLC lifted its position 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 worth $1,465,598,000 after purchasing an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after buying an additional 1,593,413 shares during the last quarter. Franklin Resources Inc. lifted its holdings in General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after buying an additional 973,135 shares during the last quarter. State Street Corp grew its position in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of General Electric by 26,959.5% in the 4th quarter. Proficio Capital Partners LLC now owns 554,991 shares of the conglomerate’s stock valued at $92,567,000 after acquiring an additional 552,940 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of NYSE:GE opened at $207.22 on Monday. The company’s fifty day moving average is $190.24 and its two-hundred day moving average is $182.20. The company has a market cap of $222.40 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. General Electric has a 12-month low of $124.08 and a 12-month 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.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. Equities analysts expect that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 24.04%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GE. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Wells Fargo & Company upped their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Redburn Atlantic started coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Finally, UBS Group lifted their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.