QRG Capital Management Inc. Purchases 6,005 Shares of General Electric (NYSE:GE)

QRG Capital Management Inc. raised its position in shares of General Electric (NYSE:GE) by 2.3% in the fourth quarter, HoldingsChannel reports. The firm owned 270,494 shares of the conglomerate’s stock after buying an additional 6,005 shares during the quarter. QRG Capital Management Inc.’s holdings in General Electric were worth $45,116,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in GE. State Street Corp grew its stake in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the period. Geode Capital Management LLC grew its stake in shares of General Electric by 0.7% during 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 acquiring an additional 156,272 shares during the period. Jennison Associates LLC grew its stake in shares of General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after acquiring an additional 106,891 shares during the period. Bank of New York Mellon Corp grew its stake in shares of General Electric by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock valued at $1,128,571,000 after acquiring an additional 115,257 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of General Electric by 6.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock valued at $1,236,428,000 after acquiring an additional 413,388 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. UBS Group boosted their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Finally, Redburn Atlantic assumed coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Performance

NYSE GE opened at $201.56 on Thursday. The company has a market cap of $216.34 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.59 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The business’s 50 day moving average price is $188.73 and its 200-day moving average price is $181.58. General Electric has a fifty-two week low of $122.48 and a fifty-two week high of $212.19.

General Electric (NYSE:GE) last released its 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%. Sell-side analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.71%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio 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.