Asahi Life Asset Management CO. LTD. Acquires Shares of 4,270 General Electric (NYSE:GE)

Asahi Life Asset Management CO. LTD. acquired a new stake in shares of General Electric (NYSE:GE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,270 shares of the conglomerate’s stock, valued at approximately $805,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital International Investors raised its holdings in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC bought a new position in shares of General Electric in the second quarter valued at about $2,613,332,000. Capital World Investors raised its holdings in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after buying an additional 459,201 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Down 1.8 %

Shares of GE traded down $3.30 on Monday, hitting $175.80. The company’s stock had a trading volume of 1,518,569 shares, compared to its average volume of 6,343,716. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average price is $179.90 and its 200-day moving average price is $168.56. General Electric has a fifty-two week low of $84.66 and a fifty-two week high of $194.80. The firm has a market capitalization of $190.62 billion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 1.74 and a beta of 1.18.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the firm earned $0.82 EPS. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. General Electric’s dividend payout ratio is presently 19.68%.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research analyst reports. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays boosted their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada dropped their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric 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.