Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Increases Stock Holdings in General Electric (NYSE:GE)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in General Electric (NYSE:GE - Free Report) by 8.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,006,401 shares of the conglomerate's stock after purchasing an additional 75,536 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.09% of General Electric worth $111,258,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Steward Financial Group LLC purchased a new stake in shares of General Electric in the second quarter valued at about $26,000. Global Wealth Management Investment Advisory Inc. boosted its stake in General Electric by 808.1% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate's stock worth $31,000 after buying an additional 299 shares during the period. Motco boosted its stake in General Electric by 143.0% during the second quarter. Motco now owns 294 shares of the conglomerate's stock worth $32,000 after buying an additional 173 shares during the period. Financial Freedom LLC purchased a new position in General Electric during the fourth quarter worth about $32,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in General Electric during the second quarter worth about $33,000. Hedge funds and other institutional investors own 74.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Royal Bank of Canada lowered their target price on shares of General Electric from $150.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of General Electric from $144.00 to $148.00 and gave the company an "overweight" rating in a report on Wednesday. Barclays raised their target price on shares of General Electric from $144.00 to $153.00 and gave the company an "overweight" rating in a report on Wednesday. StockNews.com cut shares of General Electric from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, Citigroup raised their target price on shares of General Electric from $135.00 to $148.00 and gave the company a "buy" rating in a report on Monday, December 11th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, General Electric presently has an average rating of "Moderate Buy" and a consensus target price of $132.00.

General Electric Stock Up 1.0 %

Shares of NYSE GE traded up $1.26 during trading on Friday, reaching $131.19. 3,748,178 shares of the stock were exchanged, compared to its average volume of 4,546,887. The business's 50-day moving average price is $124.92 and its 200 day moving average price is $116.64. General Electric has a twelve month low of $79.47 and a twelve month high of $132.50. The company has a quick ratio of 0.82, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $142.79 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 2.18 and a beta of 1.35.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.13. The company had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. General Electric's revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 EPS. As a group, equities analysts forecast that General Electric will post 4.52 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Thursday, December 28th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, December 27th. This represents a $0.32 annualized dividend and a yield of 0.24%. General Electric's dividend payout ratio (DPR) is presently 3.82%.

General Electric Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.