Cordatus Wealth Management LLC Increases Stock Position in General Electric (NYSE:GE)

Cordatus Wealth Management LLC increased its position in General Electric (NYSE:GE) by 66.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,546 shares of the conglomerate’s stock after acquiring an additional 6,599 shares during the period. Cordatus Wealth Management LLC’s holdings in General Electric were worth $2,759,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Geode Capital Management LLC raised its stake in General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after buying an additional 156,272 shares during the last quarter. Jennison Associates LLC raised its stake in General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after buying an additional 106,891 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in General Electric by 6.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock valued at $1,236,428,000 after buying an additional 413,388 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in General Electric by 12.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock valued at $774,458,000 after buying an additional 457,038 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Bank of America boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. 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 note on Friday, January 24th. Citigroup boosted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, UBS Group upped their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

NYSE:GE opened at $208.93 on Friday. The stock has a 50-day moving average price of $185.89 and a 200 day moving average price of $180.43. The stock has a market capitalization of $224.24 billion, a P/E ratio of 34.88, a P/E/G ratio of 2.62 and a beta of 1.22. General Electric has a 12-month low of $118.13 and a 12-month high of $212.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 net margin of 14.31% and a return on equity of 22.19%. Equities research analysts forecast that General Electric will post 5.4 EPS 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 dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

About General Electric

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.