DnB Asset Management AS Buys 116,348 Shares of General Electric (NYSE:GE)

DnB Asset Management AS boosted its stake in shares of General Electric (NYSE:GE) by 40.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 405,729 shares of the conglomerate’s stock after buying an additional 116,348 shares during the quarter. DnB Asset Management AS’s holdings in General Electric were worth $67,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of GE. New Age Alpha Advisors LLC grew its position in General Electric by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock worth $25,000 after buying an additional 84 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of General Electric during the 4th quarter worth approximately $27,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Electric during the fourth quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in General Electric during the fourth quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in General Electric in the 3rd quarter valued at $30,000. 74.77% of the stock is owned by institutional investors.

General Electric Price Performance

Shares of GE stock opened at $206.11 on Friday. The firm’s 50 day moving average price is $201.18 and its two-hundred day moving average price is $186.12. 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 has a 52-week low of $133.99 and a 52-week high of $214.21. The stock has a market cap of $221.21 billion, a PE ratio of 34.41, a PEG ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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, analysts forecast 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. Investors 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 0.70%. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GE. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company increased their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Bank of America boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.