Pictet Asset Management Holding SA Purchases 88,961 Shares of General Electric (NYSE:GE)

Pictet Asset Management Holding SA lifted its holdings in General Electric (NYSE:GE) by 16.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 631,707 shares of the conglomerate’s stock after acquiring an additional 88,961 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of General Electric worth $105,362,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. New Age Alpha Advisors LLC lifted its stake in General Electric by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after buying an additional 84 shares during the period. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the 4th quarter valued at $27,000. Sugar Maple Asset Management LLC acquired a new position in shares of General Electric during the 4th quarter valued at $29,000. CBIZ Investment Advisory Services LLC bought a new position in General Electric during the fourth quarter worth $29,000. Finally, Picton Mahoney Asset Management boosted its stake 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 acquiring an additional 68 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GE shares. JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their price target 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. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Price Performance

Shares of NYSE GE opened at $199.66 on Friday. The company has a market capitalization of $214.29 billion, a PE ratio of 33.33, a PEG ratio of 2.59 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock’s 50 day moving average price is $201.52 and its 200-day moving average price is $186.36. General Electric has a twelve month low of $133.99 and a twelve month high of $214.21.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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, equities analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business 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 a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.72%. General Electric’s payout ratio is currently 24.04%.

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.