General Electric (NYSE:GE) Stock Position Decreased by Metis Global Partners LLC

Metis Global Partners LLC cut its stake in shares of General Electric (NYSE:GE) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,576 shares of the conglomerate’s stock after selling 4,357 shares during the period. Metis Global Partners LLC’s holdings in General Electric were worth $5,306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. WCM Investment Management LLC acquired a new position in shares of General Electric in the 4th quarter valued at about $520,488,000. International Assets Investment Management LLC boosted its position in General Electric by 11,947.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock valued at $201,218,000 after purchasing an additional 1,563,484 shares during the last quarter. Carmignac Gestion purchased a new stake in shares of General Electric during the 3rd quarter worth about $133,581,000. AQR Capital Management LLC lifted its holdings in shares of General Electric by 358.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,456,673 shares of the conglomerate’s stock valued at $161,035,000 after buying an additional 1,138,896 shares during the last quarter. Finally, Barclays PLC lifted its stake in General Electric by 30.5% in the third quarter. Barclays PLC now owns 2,990,039 shares of the conglomerate’s stock valued at $330,548,000 after acquiring an additional 699,585 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by insiders.

General Electric Stock Performance

GE stock traded up $1.47 during trading on Friday, reaching $164.11. 3,968,626 shares of the stock were exchanged, compared to its average volume of 7,987,890. General Electric has a twelve month low of $77.93 and a twelve month high of $166.26. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $179.64 billion, a P/E ratio of 53.81, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. The stock has a 50 day simple moving average of $161.93 and a 200-day simple moving average of $138.30.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 EPS. As a group, sell-side analysts anticipate that General Electric will post 3.96 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were paid a $0.28 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. General Electric’s dividend payout ratio is currently 36.72%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Bank of America boosted their target price on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada increased their price target on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Jefferies Financial Group boosted their price objective on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, Citigroup upped their price objective on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $172.29.

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.