Fayez Sarofim & Co Boosts Holdings in General Electric (NYSE:GE)

Fayez Sarofim & Co lifted its stake in shares of General Electric (NYSE:GE) by 28.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,440 shares of the conglomerate’s stock after purchasing an additional 1,875 shares during the period. Fayez Sarofim & Co’s holdings in General Electric were worth $1,408,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Stifel Financial Corp increased its holdings in shares of General Electric by 6.8% in the fourth quarter. Stifel Financial Corp now owns 709,865 shares of the conglomerate’s stock valued at $118,402,000 after purchasing an additional 45,205 shares during the last quarter. Senator Investment Group LP increased its holdings in shares of General Electric by 8.4% during the 4th quarter. Senator Investment Group LP now owns 281,963 shares of the conglomerate’s stock worth $47,029,000 after buying an additional 21,963 shares during the last quarter. Wealth Dimensions Group Ltd. lifted its holdings in General Electric by 1.9% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 7,432 shares of the conglomerate’s stock valued at $1,240,000 after acquiring an additional 142 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in General Electric by 195.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 65,517 shares of the conglomerate’s stock worth $10,928,000 after acquiring an additional 43,359 shares during the last quarter. Finally, Transce3nd LLC purchased a new stake in General Electric in the fourth quarter valued at $48,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 2.0 %

GE opened at $178.22 on Tuesday. The business’s 50-day simple moving average is $195.49 and its 200-day simple moving average is $186.46. The company has a market cap of $191.28 billion, a P/E ratio of 29.75, a PEG ratio of 2.59 and a beta of 1.04. General Electric has a one year low of $148.83 and a one year high of $214.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts expect that General Electric will post 5.4 EPS for the current fiscal 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. The ex-dividend date of this dividend is Monday, March 10th. This is a boost 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 0.81%. General Electric’s dividend payout ratio is 24.04%.

Analyst Upgrades and Downgrades

GE has been the topic of several research analyst reports. Redburn Atlantic assumed coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company lifted their price objective on General Electric from $203.00 to $212.00 and gave the company an “overweight” rating in a research note on Tuesday, April 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Citigroup lowered their price objective on shares of General Electric from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $213.33.

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.