KLP Kapitalforvaltning AS Purchases New Position in General Electric (NYSE:GE)

KLP Kapitalforvaltning AS purchased a new stake in General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 331,213 shares of the conglomerate’s stock, valued at approximately $55,322,000.

A number of other large investors have also recently modified their holdings of GE. Hager Investment Management Services LLC purchased a new stake in shares of General Electric in the fourth quarter valued at approximately $27,000. Sugar Maple Asset Management LLC purchased a new stake in General Electric during the fourth quarter worth $29,000. CBIZ Investment Advisory Services LLC purchased a new stake in General Electric during the fourth quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new stake in General Electric during the third quarter worth $30,000. Finally, Picton Mahoney Asset Management lifted its holdings in General Electric by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE:GE opened at $203.99 on Friday. The stock has a market capitalization of $218.94 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 52 week low of $133.99 and a 52 week high of $212.19. The stock’s 50-day moving average price is $198.63 and its 200-day moving average price is $184.87. 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 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 analysts expect that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is 24.04%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GE shares. Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Bank of America upped their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. UBS Group increased their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Redburn Atlantic assumed coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.