Deutsche Bank AG reduced its position in General Electric (NYSE:GE – Get Rating) by 14.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,922,832 shares of the conglomerate’s stock after selling 321,827 shares during the period. Deutsche Bank AG owned about 0.18% of General Electric worth $161,114,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of General Electric by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 86,108,801 shares of the conglomerate’s stock valued at $5,330,997,000 after buying an additional 625,757 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of General Electric by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 18,952,831 shares of the conglomerate’s stock worth $1,584,662,000 after acquiring an additional 345,740 shares during the period. Pzena Investment Management LLC increased its stake in shares of General Electric by 5.6% in the third quarter. Pzena Investment Management LLC now owns 13,761,615 shares of the conglomerate’s stock worth $851,982,000 after acquiring an additional 725,871 shares during the period. Charles Schwab Investment Management Inc. grew its position in General Electric by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,903,809 shares of the conglomerate’s stock valued at $540,199,000 after buying an additional 220,914 shares during the period. Finally, Invesco Ltd. grew its position in shares of General Electric by 2.0% in the first quarter. Invesco Ltd. now owns 4,246,088 shares of the conglomerate’s stock valued at $388,518,000 after purchasing an additional 81,269 shares during the period. Institutional investors own 70.12% of the company’s stock.
Analysts Set New Price Targets
GE has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their target price on shares of General Electric from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, April 14th. Wells Fargo & Company dropped their target price on shares of General Electric from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 25th. JPMorgan Chase & Co. increased their target price on shares of General Electric from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Wednesday, April 26th. Bank of America increased their target price on shares of General Electric from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, March 6th. Finally, Oppenheimer increased their target price on shares of General Electric from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, March 14th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $103.20.
General Electric Price Performance
NYSE GE traded up $0.39 on Wednesday, reaching $101.90. The company’s stock had a trading volume of 1,629,719 shares, compared to its average volume of 7,643,540. The firm’s 50 day moving average is $92.56 and its two-hundred day moving average is $85.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 1.25. The stock has a market cap of $110.97 billion, a PE ratio of 13.23, a PEG ratio of 6.90 and a beta of 1.27. General Electric has a twelve month low of $46.55 and a twelve month high of $102.07.
General Electric (NYSE:GE – Get Rating) last issued its earnings results on Tuesday, April 25th. The conglomerate reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.14. The company had revenue of $14.49 billion for the quarter, compared to the consensus estimate of $13.46 billion. General Electric had a return on equity of 9.45% and a net margin of 11.85%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. As a group, sell-side analysts predict that General Electric will post 2.03 EPS for the current year.
General Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 25th. Investors of record on Tuesday, March 7th were issued a $0.08 dividend. The ex-dividend date was Tuesday, March 6th. This represents a $0.32 dividend on an annualized basis and a yield of 0.31%. General Electric’s dividend payout ratio is currently 4.17%.
About General Electric
General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.