Nordea Investment Management AB Raises Holdings in General Electric (NYSE:GE)

Nordea Investment Management AB increased its position in General Electric (NYSE:GEFree Report) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,181 shares of the conglomerate’s stock after buying an additional 6,782 shares during the quarter. Nordea Investment Management AB’s holdings in General Electric were worth $13,612,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. BlackRock Inc. raised its position in General Electric by 4.4% in the second quarter. BlackRock Inc. now owns 70,480,887 shares of the conglomerate’s stock valued at $7,742,325,000 after purchasing an additional 2,974,946 shares during the period. Capital International Investors raised its position in General Electric by 0.3% in the second quarter. Capital International Investors now owns 54,261,585 shares of the conglomerate’s stock valued at $5,960,462,000 after purchasing an additional 156,054 shares during the period. State Street Corp raised its position in General Electric by 3.5% in the second quarter. State Street Corp now owns 50,207,805 shares of the conglomerate’s stock valued at $5,515,327,000 after purchasing an additional 1,717,793 shares during the period. Geode Capital Management LLC raised its position in General Electric by 2.5% in the second quarter. Geode Capital Management LLC now owns 19,748,382 shares of the conglomerate’s stock valued at $2,162,919,000 after purchasing an additional 476,355 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its position in shares of General Electric by 122,242.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after acquiring an additional 13,427,079 shares during the last quarter. 74.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. StockNews.com assumed coverage on General Electric in a research report on Wednesday. They set a “hold” rating on the stock. TheStreet raised General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. JPMorgan Chase & Co. raised General Electric from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $166.00 to $180.00 in a research report on Friday, March 8th. Barclays lifted their target price on General Electric from $153.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.54.

Check Out Our Latest Research Report on General Electric

General Electric Stock Performance

Shares of GE stock opened at $173.88 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average of $146.00 and a two-hundred day moving average of $126.83. General Electric has a 52 week low of $89.55 and a 52 week high of $175.81. The company has a market cap of $190.10 billion, a P/E ratio of 20.77, a PEG ratio of 2.25 and a beta of 1.28.

General Electric (NYSE:GEGet Free Report) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The company had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. During the same period in the previous year, the firm posted $1.24 earnings per share. General Electric’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, analysts anticipate that General Electric will post 4.57 EPS for the current year.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The stock was 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 in the company, valued at $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by insiders.

General Electric Company Profile

(Free Report)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

Recommended Stories

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GEFree Report).

Institutional Ownership by Quarter for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.