AIA Group Ltd Makes New $830,000 Investment in General Electric (NYSE:GE)

AIA Group Ltd bought a new position in General Electric (NYSE:GE – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,400 shares of the conglomerate’s stock, valued at approximately $830,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Dodge & Cox increased its stake in shares of General Electric by 178.6% during the second quarter. Dodge & Cox now owns 28,966,680 shares of the conglomerate’s stock valued at $1,844,309,000 after buying an additional 18,569,368 shares during the period. FMR LLC grew its stake in General Electric by 8.4% in the second quarter. FMR LLC now owns 66,963,503 shares of the conglomerate’s stock valued at $4,263,567,000 after purchasing an additional 5,197,786 shares during the last quarter. Renaissance Technologies LLC grew its stake in General Electric by 266.5% in the second quarter. Renaissance Technologies LLC now owns 4,324,957 shares of the conglomerate’s stock valued at $275,370,000 after purchasing an additional 3,145,000 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in General Electric in the second quarter valued at about $197,818,000. Finally, Pzena Investment Management LLC grew its stake in General Electric by 18.0% in the second quarter. Pzena Investment Management LLC now owns 13,035,744 shares of the conglomerate’s stock valued at $829,986,000 after purchasing an additional 1,984,706 shares during the last quarter. Hedge funds and other institutional investors own 70.12% of the company’s stock.

General Electric Stock Up 1.2 %

Shares of GE stock opened at $80.70 on Wednesday. The stock has a 50 day moving average of $81.74 and a 200 day moving average of $75.62. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. General Electric has a twelve month low of $46.55 and a twelve month high of $81.18.

General Electric (NYSE:GE – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The conglomerate reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.08. The company had revenue of $21.79 billion during the quarter, compared to analysts’ expectations of $22.11 billion. General Electric had a positive return on equity of 7.20% and a negative net margin of 7.78%. General Electric’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $0.92 earnings per share. On average, equities research analysts expect that General Electric will post 2.51 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Thursday, December 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Wednesday, December 14th. General Electric’s dividend payout ratio is currently -5.79%.

Wall Street Analyst Weigh In

GE has been the topic of several analyst reports. Bank of America cut their target price on General Electric from $105.00 to $85.00 in a research note on Monday, January 9th. Oppenheimer raised General Electric from a “market perform” rating to an “outperform” rating and set a $104.00 price target for the company in a report on Tuesday, December 6th. UBS Group lowered their price target on General Electric from $98.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, January 12th. Wells Fargo & Company raised their price target on General Electric from $72.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, January 19th. Finally, StockNews.com raised General Electric from a “hold” rating to a “buy” rating in a report on Saturday, January 14th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $90.17.

About General Electric

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General Electric Co is a high-tech industrial company. the firm operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power. The Aviation segment designs and produces commercial and military aircraft engines, integrated engine components, electric power and mechanical aircraft systems.