Swedbank AB Raises Position in General Electric (NYSE:GE)

Swedbank AB increased its holdings in shares of General Electric (NYSE:GE) by 0.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 137,072 shares of the conglomerate’s stock after purchasing an additional 511 shares during the period. Swedbank AB’s holdings in General Electric were worth $22,862,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GE. Susquehanna Fundamental Investments LLC acquired a new stake in shares of General Electric during the second quarter worth $811,000. Sunbelt Securities Inc. lifted its position in General Electric by 11.5% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,193 shares of the conglomerate’s stock worth $190,000 after acquiring an additional 123 shares during the period. Truist Financial Corp grew its stake in General Electric by 10.6% during the 2nd quarter. Truist Financial Corp now owns 220,867 shares of the conglomerate’s stock valued at $35,111,000 after purchasing an additional 21,127 shares during the last quarter. Advisory Alpha LLC increased its holdings in shares of General Electric by 11.3% in the second quarter. Advisory Alpha LLC now owns 1,779 shares of the conglomerate’s stock valued at $283,000 after purchasing an additional 181 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of General Electric in the second quarter worth about $17,179,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Citigroup raised their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company boosted their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Sanford C. Bernstein raised their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

General Electric Price Performance

Shares of NYSE GE opened at $205.89 on Friday. The firm has a 50-day simple moving average of $176.42 and a 200-day simple moving average of $175.79. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $222.83 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. General Electric has a 52 week low of $105.70 and a 52 week high of $207.65.

General Electric (NYSE:GE) last released its earnings results 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 11.48% and a return on equity of 18.93%. On average, equities analysts predict that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio (DPR) 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.