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

AIA Group Ltd bought a new position in General Electric (NYSE:GEGet 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:GEGet 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.

See Also

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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