Mediolanum International Funds Ltd Has $42.16 Million Stock Position in General Electric (NYSE:GE)

Mediolanum International Funds Ltd lifted its position in shares of General Electric (NYSE:GE) by 201.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,420 shares of the conglomerate’s stock after purchasing an additional 167,962 shares during the period. Mediolanum International Funds Ltd’s holdings in General Electric were worth $42,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Toth Financial Advisory Corp bought a new position in General Electric during the third quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric during the third quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the 3rd quarter worth about $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric in the third quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC bought a new position in General Electric during the 3rd quarter valued at $30,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

NYSE:GE opened at $205.89 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a fifty-two week low of $105.70 and a fifty-two week high of $207.65. The business has a 50 day moving average price of $176.42 and a 200-day moving average price of $175.79. The firm has a market cap of $222.83 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 2.48 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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%. Equities research analysts predict that General Electric will post 5.39 earnings per share for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio is currently 18.70%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GE. Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Citigroup boosted their price target on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Wells Fargo & Company boosted their price target on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus price target of $208.73.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

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.