Korea Investment CORP Sells 163,182 Shares of General Electric (NYSE:GE)

Korea Investment CORP lowered its position in shares of General Electric (NYSE:GE) by 16.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 810,991 shares of the conglomerate’s stock after selling 163,182 shares during the quarter. Korea Investment CORP owned 0.08% of General Electric worth $135,265,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hager Investment Management Services LLC bought a new stake in General Electric during the fourth quarter worth $27,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Electric during the 4th quarter valued at $29,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Electric during the 4th quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of General Electric in the 3rd quarter worth about $30,000. Finally, Picton Mahoney Asset Management grew its position in General Electric by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock valued at $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

Shares of NYSE:GE opened at $207.33 on Thursday. The company has a 50 day moving average of $200.66 and a 200 day moving average of $185.98. General Electric has a 12 month low of $133.99 and a 12 month high of $214.21. The stock has a market cap of $222.53 billion, a P/E ratio of 34.61, a P/E/G ratio of 2.59 and a beta of 1.19. 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 earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 0.69%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 24.04%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Citigroup increased their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Redburn Atlantic started coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. 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. Finally, Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric 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.