General Electric (NYSE:GE) Shares Bought by DSM Capital Partners LLC

DSM Capital Partners LLC lifted its position in shares of General Electric (NYSE:GE) by 29.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 239,632 shares of the conglomerate’s stock after purchasing an additional 54,967 shares during the period. General Electric makes up approximately 0.6% of DSM Capital Partners LLC’s holdings, making the stock its 25th biggest holding. DSM Capital Partners LLC’s holdings in General Electric were worth $39,968,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GE. Game Plan Financial Advisors LLC increased its position in shares of General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after acquiring an additional 55 shares in the last quarter. Red Door Wealth Management LLC grew its position in General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 56 shares in the last quarter. Saxon Interests Inc. grew its position in General Electric by 4.2% during the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after purchasing an additional 57 shares in the last quarter. Old North State Wealth Management LLC raised its stake in General Electric by 3.0% during the 4th quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after purchasing an additional 58 shares during the period. Finally, Northeast Investment Management boosted its position in shares of General Electric by 2.2% in the fourth quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock worth $452,000 after buying an additional 59 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on GE. Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Citigroup upped their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Price Performance

NYSE GE opened at $209.94 on Wednesday. General Electric has a fifty-two week low of $118.13 and a fifty-two week high of $212.19. The stock’s 50-day moving average is $184.18 and its two-hundred day moving average is $180.02. The firm has a market cap of $225.33 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

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, beating 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%. On average, analysts anticipate that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is presently 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.