Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Stake in General Electric (NYSE:GE)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in shares of General Electric (NYSE:GE) by 26.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,765 shares of the conglomerate’s stock after selling 57,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in General Electric were worth $26,814,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GE. Hennion & Walsh Asset Management Inc. lifted its stake in shares of General Electric by 69.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,357 shares of the conglomerate’s stock valued at $822,000 after buying an additional 1,790 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of General Electric by 0.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 30,671 shares of the conglomerate’s stock valued at $5,784,000 after buying an additional 209 shares in the last quarter. Global Trust Asset Management LLC lifted its stake in shares of General Electric by 22.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 776 shares of the conglomerate’s stock valued at $146,000 after buying an additional 140 shares in the last quarter. Dakota Wealth Management lifted its stake in shares of General Electric by 21.8% during the 3rd quarter. Dakota Wealth Management now owns 8,086 shares of the conglomerate’s stock valued at $1,525,000 after buying an additional 1,449 shares in the last quarter. Finally, Silver Oak Securities Incorporated lifted its stake in shares of General Electric by 16.7% during the 3rd quarter. Silver Oak Securities Incorporated now owns 4,924 shares of the conglomerate’s stock valued at $885,000 after buying an additional 706 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on GE. JPMorgan Chase & Co. upped their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Redburn Atlantic started coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Bank of America increased their target price 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. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

GE opened at $199.90 on Friday. The stock has a 50-day moving average price of $186.57 and a 200-day moving average price of $180.85. General Electric has a 12-month low of $119.88 and a 12-month high of $212.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $214.55 billion, a P/E ratio of 33.37, a PEG ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Equities analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.72%. General Electric’s dividend payout ratio is currently 18.70%.

General Electric Company 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.