General Electric (NYSE:GE) Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. boosted its holdings in General Electric (NYSE:GE) by 109.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 175,797 shares of the conglomerate’s stock after purchasing an additional 91,936 shares during the quarter. iA Global Asset Management Inc.’s holdings in General Electric were worth $29,321,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Hager Investment Management Services LLC acquired a new position in General Electric in the fourth quarter valued at approximately $27,000. Sugar Maple Asset Management LLC acquired a new position in General Electric in the fourth quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC acquired a new position in General Electric in the fourth quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of General Electric in the third quarter valued at approximately $30,000. Finally, Picton Mahoney Asset Management boosted its holdings in shares of General Electric by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 68 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Bank of America increased their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. JPMorgan Chase & Co. increased their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Trading Up 2.4 %

NYSE:GE opened at $205.67 on Thursday. The stock has a fifty day moving average price of $197.36 and a two-hundred day moving average price of $184.53. The stock has a market capitalization of $220.75 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 2.59 and a beta of 1.19. 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 1 year low of $133.99 and a 1 year high of $212.19.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (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%. As a group, sell-side analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company 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. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.70%. This is a boost from General Electric’s previous quarterly dividend of $0.28. 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.