American Century Companies Inc. Raises Stock Holdings in General Electric (NYSE:GE)

American Century Companies Inc. lifted its holdings in shares of General Electric (NYSE:GE) by 51.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 299,935 shares of the conglomerate’s stock after acquiring an additional 102,319 shares during the period. American Century Companies Inc.’s holdings in General Electric were worth $50,026,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Hager Investment Management Services LLC acquired a new position in General Electric in the fourth quarter valued at $27,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Electric during the fourth quarter worth about $29,000. CBIZ Investment Advisory Services LLC acquired a new position in General Electric in the 4th quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in General Electric during the 3rd quarter valued at approximately $30,000. Finally, Picton Mahoney Asset Management lifted its position in General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 68 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GE shares. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Citigroup upped their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group lifted their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Bank of America increased their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Redburn Atlantic assumed coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Performance

NYSE:GE opened at $207.33 on Thursday. 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 company has a market capitalization of $222.53 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The firm has a 50-day moving average price of $200.66 and a two-hundred day moving average price of $185.98. General Electric has a twelve month low of $133.99 and a twelve month high of $214.21.

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 analysts’ consensus estimates 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, research analysts expect that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is currently 24.04%.

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.