General Electric (NYSE:GE) Shares Sold by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. cut its position in shares of General Electric (NYSE:GE) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,040 shares of the conglomerate’s stock after selling 230 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in General Electric were worth $674,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric during the 3rd quarter valued at about $25,000. Hager Investment Management Services LLC purchased a new position in General Electric during the fourth quarter worth approximately $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric in the third quarter valued at approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Electric in the fourth quarter valued at approximately $29,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of General Electric in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 2.9 %

Shares of GE opened at $207.22 on Friday. The stock has a fifty day simple moving average of $190.24 and a two-hundred day simple moving average of $182.10. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $222.40 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. General Electric has a 52-week low of $124.08 and a 52-week high of $212.19.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. As a group, equities analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. General Electric’s dividend payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Redburn Atlantic started coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. UBS Group raised their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus price target of $211.31.

About General Electric

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.