Mutual of America Capital Management LLC Has $22.13 Million Stake in General Electric (NYSE:GE)

Mutual of America Capital Management LLC decreased its stake in shares of General Electric (NYSE:GE) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 132,653 shares of the conglomerate’s stock after selling 4,089 shares during the period. Mutual of America Capital Management LLC’s holdings in General Electric were worth $22,125,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GE. Jennison Associates LLC increased its holdings in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC grew its holdings in General Electric by 505.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after buying an additional 1,593,413 shares during the last quarter. Franklin Resources Inc. grew its holdings in General Electric by 206.5% in the 3rd 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 last quarter. State Street Corp grew 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 valued at $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in General Electric by 26,959.5% in the 4th quarter. Proficio Capital Partners LLC now owns 554,991 shares of the conglomerate’s stock valued at $92,567,000 after buying an additional 552,940 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

General Electric stock opened at $207.22 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company has a market capitalization of $222.40 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. General Electric has a one year low of $124.08 and a one year high of $212.19. The business has a 50 day simple moving average of $190.24 and a 200 day simple moving average of $182.00.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, sell-side analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders 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 yield of 0.69%. General Electric’s payout ratio is presently 24.04%.

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. raised their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average price target of $211.31.

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.