Jupiter Asset Management Ltd. Buys Shares of 369,599 General Electric (NYSE:GE)

Jupiter Asset Management Ltd. bought a new stake in shares of General Electric (NYSE:GE) during the fourth quarter, HoldingsChannel reports. The fund bought 369,599 shares of the conglomerate’s stock, valued at approximately $61,645,000.

A number of other large investors have also recently bought and sold shares of GE. Valley Wealth Managers Inc. purchased a new position in shares of General Electric in the 3rd quarter worth $25,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric in the 3rd quarter worth $28,000. RPg Family Wealth Advisory LLC purchased a new position in shares of General Electric in the 3rd quarter worth $30,000. Hager Investment Management Services LLC purchased a new position in shares of General Electric in the 4th quarter worth $27,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of General Electric in the 4th quarter worth $29,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Citigroup increased their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. 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 report on Monday, January 27th. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Two equities 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.com, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Performance

Shares of NYSE GE opened at $191.89 on Wednesday. The firm’s 50-day moving average price is $193.99 and its two-hundred day moving average price is $183.50. The stock has a market capitalization of $205.95 billion, a P/E ratio of 32.03, a P/E/G 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. General Electric has a 52-week low of $131.14 and a 52-week high of $212.19.

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 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%. As a group, sell-side analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced 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 represents a $1.44 dividend on an annualized basis and a yield of 0.75%. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is 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.