Capital Research Global Investors Sells 10,653,257 Shares of General Electric (NYSE:GE)

Capital Research Global Investors lowered its position in shares of General Electric (NYSE:GE) by 20.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 41,970,273 shares of the conglomerate’s stock after selling 10,653,257 shares during the quarter. General Electric comprises approximately 1.4% of Capital Research Global Investors’ investment portfolio, making the stock its 14th largest position. Capital Research Global Investors’ holdings in General Electric were worth $7,000,240,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Truvestments Capital LLC raised its stake in shares of General Electric by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock worth $39,000 after buying an additional 49 shares during the period. Ritter Daniher Financial Advisory LLC DE increased its holdings in General Electric by 17.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate’s stock valued at $56,000 after acquiring an additional 50 shares during the last quarter. Ballast Advisors LLC boosted its stake in 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 buying an additional 51 shares during the last quarter. Blue Barn Wealth LLC grew its holdings in General Electric by 3.8% during the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after buying an additional 54 shares in the last quarter. Finally, Game Plan Financial Advisors LLC increased its stake in General Electric by 10.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GE shares. UBS Group increased their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Citigroup reduced their target price on shares of General Electric from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. increased their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company boosted their target price on General Electric from $203.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $213.33.

General Electric Trading Down 0.3 %

GE stock opened at $181.88 on Friday. The company has a market capitalization of $195.21 billion, a PE ratio of 30.36, a P/E/G ratio of 2.59 and a beta of 1.04. 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 12 month low of $146.78 and a 12 month high of $214.21. The firm’s 50-day moving average is $196.12 and its 200 day moving average is $186.50.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 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%. On average, research analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.79%. General Electric’s dividend payout ratio (DPR) is currently 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.