Capital Research Global Investors Sells 10,653,257 Shares of General Electric (NYSE:GE)

Capital Research Global Investors reduced its holdings in shares of General Electric (NYSE:GE) by 20.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,970,273 shares of the conglomerate’s stock after selling 10,653,257 shares during the quarter. General Electric makes up approximately 1.4% of Capital Research Global Investors’ holdings, making the stock its 14th biggest position. Capital Research Global Investors owned approximately 3.91% of General Electric worth $7,000,240,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Truvestments Capital LLC grew its holdings in shares of General Electric by 26.2% during the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its stake in General Electric by 17.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate’s stock worth $56,000 after buying an additional 50 shares in the last quarter. Ballast Advisors LLC raised its position in shares of General Electric by 2.5% during the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after buying an additional 51 shares in the last quarter. Blue Barn Wealth LLC grew its position in General Electric by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after acquiring an additional 54 shares in the last quarter. Finally, Game Plan Financial Advisors LLC raised its position in General Electric by 10.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock valued at $96,000 after purchasing an additional 55 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the subject of a number of recent research reports. Bank of America boosted their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group upped their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their target price on shares of General Electric from $203.00 to $212.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Citigroup decreased their price objective on General Electric from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $213.33.

General Electric Price Performance

Shares of General Electric stock opened at $181.88 on Friday. The company has a market cap of $195.21 billion, a PE ratio of 30.36, a P/E/G ratio of 2.59 and a beta of 1.04. The business has a 50 day moving average of $196.12 and a 200 day moving average of $186.50. General Electric has a 52 week low of $146.78 and a 52 week high of $214.21. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last announced its earnings results 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 net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.79%. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is presently 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.