Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in General Electric (NYSE:GE)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of General Electric (NYSE:GE - Free Report) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,075,700 shares of the conglomerate's stock after buying an additional 69,299 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of General Electric worth $133,451,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Congress Wealth Management LLC DE grew its stake in shares of General Electric by 4.2% during the 3rd quarter. Congress Wealth Management LLC DE now owns 5,952 shares of the conglomerate's stock valued at $658,000 after buying an additional 238 shares during the period. Fifth Third Bancorp increased its stake in General Electric by 84.8% during the third quarter. Fifth Third Bancorp now owns 232,202 shares of the conglomerate's stock worth $25,670,000 after acquiring an additional 106,529 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in shares of General Electric in the 3rd quarter worth about $699,000. Precision Wealth Strategies LLC acquired a new position in shares of General Electric in the 3rd quarter valued at about $1,031,000. Finally, Jennison Associates LLC grew its holdings in shares of General Electric by 44.3% during the 3rd quarter. Jennison Associates LLC now owns 764,480 shares of the conglomerate's stock worth $84,513,000 after purchasing an additional 234,680 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GE. Royal Bank of Canada lifted their price target on shares of General Electric from $165.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, April 24th. Jefferies Financial Group increased their price target on General Electric from $180.00 to $185.00 and gave the company a "buy" rating in a report on Monday, April 29th. JPMorgan Chase & Co. upped their target price on General Electric from $148.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft dropped their target price on General Electric from $210.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group upped their price target on General Electric from $190.00 to $211.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric has a consensus rating of "Moderate Buy" and an average target price of $174.21.

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company's stock.

General Electric Stock Performance

Shares of NYSE:GE traded up $0.50 during trading on Tuesday, reaching $160.00. 6,050,076 shares of the company's stock traded hands, compared to its average volume of 7,764,056. The stock has a market capitalization of $175.14 billion, a P/E ratio of 52.46, a price-to-earnings-growth ratio of 2.90 and a beta of 1.25. General Electric has a 12 month low of $79.22 and a 12 month high of $170.80. The company has a 50 day moving average of $163.04 and a 200-day moving average of $140.71. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82.

General Electric (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same period in the prior year, the company earned $0.27 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. On average, equities analysts expect that General Electric will post 3.96 EPS for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a dividend of $0.28 per share. The ex-dividend date was Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. This is a positive change from General Electric's previous quarterly dividend of $0.08. General Electric's dividend payout ratio is currently 36.72%.

About General Electric

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.