OVERSEA CHINESE BANKING Corp Ltd Has $12.73 Million Stake in General Electric (NYSE:GE)

OVERSEA CHINESE BANKING Corp Ltd reduced its position in shares of General Electric (NYSE:GE) by 13.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,330 shares of the conglomerate’s stock after selling 11,759 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in General Electric were worth $12,733,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Hager Investment Management Services LLC acquired a new position in shares of General Electric in the fourth quarter valued at about $27,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Electric in the fourth quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Electric during the 4th quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of General Electric in the third quarter worth $30,000. Finally, Picton Mahoney Asset Management raised its stake in General Electric by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 68 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Down 0.6 %

Shares of General Electric stock opened at $200.74 on Wednesday. The firm has a market cap of $215.45 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 2.59 and a beta of 1.19. 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 stock’s 50-day moving average is $196.70 and its 200 day moving average is $184.38. General Electric has a one year low of $133.99 and a one year high of $212.19.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Equities research analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.72%. General Electric’s dividend payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GE. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Bank of America upped their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. JPMorgan Chase & Co. boosted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Citigroup upped their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

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.