Royal London Asset Management Ltd. Sells 1,828 Shares of General Electric (NYSE:GE)

Royal London Asset Management Ltd. lowered its stake in General Electric (NYSE:GE) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 475,017 shares of the conglomerate’s stock after selling 1,828 shares during the period. Royal London Asset Management Ltd.’s holdings in General Electric were worth $79,228,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wulff Hansen & CO. increased its holdings in General Electric by 12.3% in the 4th quarter. Wulff Hansen & CO. now owns 11,265 shares of the conglomerate’s stock valued at $1,879,000 after buying an additional 1,232 shares during the period. Vinva Investment Management Ltd boosted its position in shares of General Electric by 52.3% during the 4th quarter. Vinva Investment Management Ltd now owns 31,019 shares of the conglomerate’s stock worth $5,214,000 after acquiring an additional 10,653 shares in the last quarter. Bank of Marin bought a new position in General Electric in the fourth quarter valued at approximately $246,000. VSM Wealth Advisory LLC acquired a new position in General Electric during the fourth quarter valued at approximately $38,000. Finally, Xponance Inc. lifted its stake in General Electric by 1.4% during the fourth quarter. Xponance Inc. now owns 176,264 shares of the conglomerate’s stock worth $29,399,000 after purchasing an additional 2,490 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Redburn Atlantic assumed coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective 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. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Up 2.4 %

Shares of NYSE:GE opened at $205.67 on Thursday. The firm has a market cap of $220.75 billion, a P/E ratio of 34.34, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 12-month low of $133.99 and a 12-month high of $212.19. The business has a fifty day simple moving average of $197.36 and a 200 day simple moving average of $184.53. 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 issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is currently 24.04%.

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.