Prudential PLC Has $293,000 Stock Holdings in General Electric (NYSE:GE)

Prudential PLC decreased its stake in shares of General Electric (NYSE:GE) by 41.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,758 shares of the conglomerate’s stock after selling 1,258 shares during the period. Prudential PLC’s holdings in General Electric were worth $293,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in General Electric during the 4th quarter worth about $2,375,439,000. Raymond James Financial Inc. acquired a new stake in shares of General Electric during the 4th quarter worth approximately $194,208,000. Franklin Resources Inc. lifted its holdings in General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after buying an additional 973,135 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in General Electric by 15,750.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 768,588 shares of the conglomerate’s stock valued at $138,368,000 after acquiring an additional 763,739 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in General Electric by 74.8% during the 4th quarter. Prudential Financial Inc. now owns 1,369,932 shares of the conglomerate’s stock worth $228,491,000 after acquiring an additional 586,045 shares during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GE shares. UBS Group boosted their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $211.60.

General Electric Price Performance

NYSE GE opened at $169.05 on Wednesday. The firm’s 50 day moving average is $199.92 and its 200-day moving average is $186.71. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $181.44 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. General Electric has a 12-month low of $146.78 and a 12-month high of $214.21.

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

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. 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 0.85%. General Electric’s dividend payout ratio is 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.