Securian Asset Management Inc. Lowers Position in General Electric (NYSE:GE)

Securian Asset Management Inc. lowered its holdings in General Electric (NYSE:GE) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 58,168 shares of the conglomerate’s stock after selling 1,803 shares during the quarter. Securian Asset Management Inc.’s holdings in General Electric were worth $9,702,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atria Investments Inc raised its holdings in shares of General Electric by 15.7% during the 3rd quarter. Atria Investments Inc now owns 23,407 shares of the conglomerate’s stock valued at $4,414,000 after buying an additional 3,179 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in General Electric by 41.8% in the 3rd quarter. Axxcess Wealth Management LLC now owns 12,443 shares of the conglomerate’s stock worth $2,347,000 after purchasing an additional 3,671 shares during the period. Legacy Capital Wealth Partners LLC purchased a new position in General Electric in the 3rd quarter worth approximately $210,000. Tyler Stone Wealth Management increased its stake in General Electric by 116.8% in the 3rd quarter. Tyler Stone Wealth Management now owns 1,316 shares of the conglomerate’s stock worth $248,000 after purchasing an additional 709 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in General Electric in the 3rd quarter worth approximately $165,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 0.1 %

Shares of NYSE:GE opened at $191.89 on Wednesday. The company has a market cap of $205.95 billion, a P/E ratio of 32.03, a PEG ratio of 2.59 and a beta of 1.19. 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 has a 1 year low of $131.14 and a 1 year high of $212.19. The stock’s fifty day moving average price is $193.99 and its 200-day moving average price is $183.50.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. Sell-side analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.75%. General Electric’s dividend payout ratio is currently 24.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GE shares. JPMorgan Chase & Co. lifted their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Bank of America lifted their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group lifted their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Redburn Atlantic assumed coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.