Prudential PLC Has $293,000 Stake in General Electric (NYSE:GE)

Prudential PLC lowered its stake in General Electric (NYSE:GE) by 41.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,758 shares of the conglomerate’s stock after selling 1,258 shares during the period. Prudential PLC’s holdings in General Electric were worth $293,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GE. Truvestments Capital LLC grew its holdings in General Electric by 26.2% during the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 49 shares during the last quarter. Ballast Advisors LLC grew its stake in General Electric by 2.5% in the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after buying an additional 51 shares during the last quarter. Blue Barn Wealth LLC raised its holdings in General Electric by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after acquiring an additional 54 shares during the period. Game Plan Financial Advisors LLC lifted its position in General Electric by 10.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after acquiring an additional 55 shares during the last quarter. Finally, Red Door Wealth Management LLC boosted its holdings in General Electric by 4.0% during the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after acquiring an additional 56 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.8 %

Shares of GE opened at $169.05 on Wednesday. The stock has a 50 day simple moving average of $199.92 and a 200-day simple moving average of $186.71. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a market cap of $181.44 billion, a PE ratio of 28.22, a PEG ratio of 2.59 and a beta of 1.04. General Electric has a 1 year low of $146.78 and a 1 year high of $214.21.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.85%. 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 currently 24.04%.

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Wells Fargo & Company cut their price target on General Electric from $250.00 to $203.00 and set an “overweight” rating for the company in a report on Tuesday. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Redburn Atlantic initiated coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Finally, Citigroup raised their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.60.

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.