AGF Management Ltd. Sells 2,328 Shares of General Electric (NYSE:GE)

AGF Management Ltd. lowered its position in General Electric (NYSE:GE) by 22.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,030 shares of the conglomerate’s stock after selling 2,328 shares during the period. AGF Management Ltd.’s holdings in General Electric were worth $1,339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after purchasing an additional 156,272 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of General Electric by 1.4% in the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after purchasing an additional 106,891 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of General Electric by 1.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock valued at $1,128,571,000 after purchasing an additional 115,257 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of General Electric by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock valued at $1,122,966,000 after purchasing an additional 202,233 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup raised their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. raised their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, 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. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Performance

NYSE:GE opened at $197.39 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The business has a fifty day simple moving average of $195.54 and a two-hundred day simple moving average of $183.82. General Electric has a 1 year low of $131.91 and a 1 year high of $212.19. The company has a market capitalization of $211.85 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last announced 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%. On average, analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. 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. This represents a $1.44 annualized dividend and a dividend yield of 0.73%. General Electric’s payout ratio is 24.04%.

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.