ARK Investment Management LLC Has $1.12 Million Stock Holdings in General Electric (NYSE:GE)

ARK Investment Management LLC decreased its stake in shares of General Electric (NYSE:GE - Free Report) by 23.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,737 shares of the conglomerate's stock after selling 2,039 shares during the period. ARK Investment Management LLC's holdings in General Electric were worth $1,124,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Geode Capital Management LLC lifted its stake in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock valued at $4,244,676,000 after buying an additional 156,272 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of General Electric by 1.4% during the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock valued at $1,314,080,000 after acquiring an additional 106,891 shares during the period. Bank of New York Mellon Corp grew its position 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 worth $1,128,571,000 after acquiring an additional 115,257 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in General Electric by 6.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate's stock valued at $1,236,428,000 after purchasing an additional 413,388 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Citigroup raised their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, General Electric currently has an average rating of "Moderate Buy" and an average target price of $211.31.

General Electric Stock Up 2.9 %

Shares of GE traded up $5.79 during midday trading on Friday, reaching $207.22. 6,116,408 shares of the stock were exchanged, compared to its average volume of 5,268,165. The company has a market cap of $222.40 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 2.59 and a beta of 1.22. The firm has a 50 day simple moving average of $190.24 and a 200-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. General Electric has a 12-month low of $124.08 and a 12-month high of $212.19.

General Electric (NYSE:GE - Get Free Report) last announced 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 return on equity of 22.19% and a net margin of 14.31%. Research analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared 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 0.69%. General Electric's dividend payout ratio (DPR) is currently 24.04%.

General Electric 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.