American Money Management LLC Acquires 566 Shares of General Electric (NYSE:GE)

American Money Management LLC lifted its holdings in shares of General Electric (NYSE:GE) by 3.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,209 shares of the conglomerate’s stock after acquiring an additional 566 shares during the period. American Money Management LLC’s holdings in General Electric were worth $2,870,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in General Electric by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock worth $14,980,297,000 after acquiring an additional 410,172 shares in the last quarter. State Street Corp increased its position in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Geode Capital Management LLC lifted its stake in General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after purchasing an additional 156,272 shares during the last quarter. Norges Bank bought a new stake in shares of General Electric during the fourth quarter worth $2,375,439,000. Finally, Jennison Associates LLC grew its stake in shares of General Electric by 1.4% during the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after buying an additional 106,891 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Trading Down 3.0 %

Shares of GE stock opened at $199.66 on Friday. The company has a market cap of $214.29 billion, a P/E ratio of 33.33, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a fifty-two week low of $133.99 and a fifty-two week high of $214.21. The stock has a 50 day simple moving average of $201.52 and a two-hundred day simple moving average of $186.50. 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 (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Research analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced 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 yield of 0.72%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lifted their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Redburn Atlantic began coverage on shares of General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Finally, Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.