Fmr LLC Has $11.15 Billion Holdings in General Electric (NYSE:GE)

by · The Markets Daily

Fmr LLC grew its holdings in shares of General Electric (NYSE:GE – Free Report) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,823,968 shares of the conglomerate’s stock after buying an additional 965,012 shares during the period. General Electric makes up 0.7% of Fmr LLC’s investment portfolio, making the stock its 22nd largest holding. Fmr LLC owned about 6.23% of General Electric worth $11,145,570,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GE. Vanguard Group Inc. increased its position in General Electric by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock worth $14,980,297,000 after buying an additional 410,172 shares during the last quarter. Geode Capital Management LLC raised its position in shares of General Electric by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate’s stock valued at $3,846,587,000 after buying an additional 529,457 shares in the last quarter. Norges Bank purchased a new position in shares of General Electric in the 4th quarter worth about $2,375,439,000. Jennison Associates LLC grew its holdings in shares of General Electric by 1.4% during the 4th 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 during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of General Electric by 1.7% during 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 buying an additional 115,257 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the subject of a number of recent analyst reports. UBS Group upped their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $214.73.

Read Our Latest Analysis on GE

General Electric Stock Down 11.1 %

General Electric stock opened at $166.76 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $146.78 and a twelve month high of $214.21. The firm has a market capitalization of $178.98 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.59 and a beta of 1.04. The stock’s fifty day simple moving average is $201.56 and its 200-day simple moving average is $187.07.

General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed 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. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is currently 24.04%.

General Electric Profile

(Free Report)

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.

See Also