abrdn plc buys 183,762 shares of General Electric (NYSE:GE)

abrdn plc increased its stake in shares of General Electric (NYSE:GE – Free Report) by 67.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 454,887 shares of the conglomerate, after purchasing a further 183,762 shares during the quarter. abrdn plc’s holdings in General Electric were worth $58,057,000 at the time of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. State Street Corp increased its stake in General Electric by 17.3% in the first quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock worth $4,639,533,000 after purchasing an additional 7,157,356 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after purchasing an additional 13,427,079 shares in the last quarter. Northern Trust Corp increased its position in shares of General Electric by 4.0% during the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after acquiring an additional 410,061 shares during the last quarter. Morgan Stanley increased its stake in General Electric by 5.1% in the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after acquiring an additional 434,736 shares in the last quarter. Finally, Norges Bank purchased a new stake in General Electric worth $635,274,000 in the fourth quarter. Institutional investors own 74.77% of the company’s shares.

General Electric trading falls 3.2%

GE shares opened Monday at $148.06. The company has a market cap of $161.87 billion, a price-to-earnings ratio of 17.69, a price-to-earnings ratio of 2.92, and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85. General Electric has a 12-month low of $76.87 and a 12-month high of $158.68. The company’s 50-day moving average is $159.32 and its 200-day moving average is $134.74.

General Electric (NYSE:GE – Get Free Report) posted its latest 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. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same period last year, the company posted earnings per share of $1.24. The company’s quarterly revenue increased 15.4% compared to the same quarter last year. On average, research analysts expect General Electric to post earnings per share of 3.76 this year.

General Electric increases dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25. Investors of record on Monday, April 15 will receive a $0.28 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a dividend of $1.12 annually and a dividend yield of 0.76%. The ex-dividend date is Friday, April 12. General Electric’s payout ratio currently stands at 13.38%.

Analysts set new price targets

GE has been the subject of a number of investigative reports. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $210.00 to $190.00 in a research report on Wednesday, April 3. Barclays lowered their price target on shares of General Electric from $181.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5. Finally, The Goldman Sachs Group initiated coverage on General Electric in a research report on Tuesday, April 9. They set a “buy” rating and a $190.00 price target on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $160.07.

Get our latest stock report on General Electric

Buying and selling with insider information

In other news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, SVP Michael J. Holston sold 22,055 shares of the company’s 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 completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The explanation of this sale can be found here. 0.66% of the shares are owned by insiders.

About General Electric

(Free report)

General Electric Company, doing business as GE Aerospace, designs and manufactures commercial and defense aircraft engines, integrated engine components, electrical power and aircraft mechanical systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, America, the Middle East and Africa.

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