Allspring Global Investments Holdings LLC Sells 18,071 Shares of General Electric (NYSE:GE)

Allspring Global Investments Holdings LLC lowered its position in shares of General Electric (NYSE:GE) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 941,590 shares of the conglomerate’s stock after selling 18,071 shares during the period. Allspring Global Investments Holdings LLC owned 0.09% of General Electric worth $158,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC lifted its position in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the period. International Assets Investment Management LLC raised its stake in General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after purchasing an additional 3,158,153 shares in the last quarter. Janus Henderson Group PLC lifted its position in General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after purchasing an additional 1,593,413 shares during the period. Franklin Resources Inc. lifted its position in General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after purchasing an additional 973,135 shares during the period. Finally, State Street Corp grew its stake in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Price Performance

GE stock opened at $209.03 on Wednesday. General Electric has a 12 month low of $110.95 and a 12 month high of $209.15. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $224.35 billion, a P/E ratio of 34.90, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The firm has a 50 day moving average of $180.18 and a 200-day moving average of $178.28.

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

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were paid a $0.28 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. General Electric’s dividend payout ratio (DPR) is 18.70%.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup boosted their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Bank of America increased their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. JPMorgan Chase & Co. raised 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. Finally, Wells Fargo & Company increased their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

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.