Franklin Resources Inc. Sells 206,367 Shares of General Electric (NYSE:GE)

Franklin Resources Inc. reduced its stake in General Electric (NYSE:GE) by 14.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,238,099 shares of the conglomerate’s stock after selling 206,367 shares during the quarter. Franklin Resources Inc.’s holdings in General Electric were worth $206,503,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GE. Norges Bank bought a new position in shares of General Electric during the 4th quarter worth approximately $2,375,439,000. Janus Henderson Group PLC lifted its holdings in General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after acquiring an additional 1,593,413 shares during the period. Raymond James Financial Inc. purchased a new position in General Electric in the fourth quarter worth $194,208,000. State Street Corp grew its stake in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in shares of General Electric by 15,750.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 768,588 shares of the conglomerate’s stock valued at $138,368,000 after purchasing an additional 763,739 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GE shares. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Redburn Atlantic started coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Finally, Citigroup boosted their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Performance

NYSE GE opened at $203.90 on Wednesday. The company’s 50 day simple moving average is $202.20 and its two-hundred day simple moving average is $187.04. The stock has a market capitalization of $218.85 billion, a PE ratio of 34.04, a P/E/G ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a 1 year low of $133.99 and a 1 year high of $214.21.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.71%. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is 24.04%.

General Electric Company 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.