Today: The Mitsubishi UFJ Kokusai Asset Management Co. Ltd. invests in General Electric Co. (GE) Shares

The Mitsubishi UFJ Kokusai Asset Management Co. Ltd. invests in General Electric Co. (GE) Shares

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in General Electric Co. (NYSE:GE) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 1,881,602 shares of the company’s stock after buying an additional 10,060 shares during the period. General Electric comprises approximately 1.5% of Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s portfolio, making the stock its 5th largest position. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in General Electric were worth $59,233,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Barry Investment Advisors LLC raised its stake in shares of General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock valued at $216,000 after buying an additional 50 shares in the last quarter. Balasa Dinverno & Foltz LLC raised its stake in General Electric by 0.3% in the second quarter. Balasa Dinverno & Foltz LLC now owns 29,568 shares of the company’s stock worth $931,000 after buying an additional 79 shares during the period. Check Capital Management Inc. CA raised its stake in General Electric by 0.8% in the second quarter. Check Capital Management Inc. CA now owns 10,079 shares of the company’s stock worth $317,000 after buying an additional 81 shares during the period. Proficio Capital Partners LLC raised its stake in General Electric by 0.3% in the second quarter. Proficio Capital Partners LLC now owns 28,061 shares of the company’s stock worth $877,000 after buying an additional 84 shares during the period. Finally, D. Scott Neal Inc. raised its stake in General Electric by 1.3% in the second quarter. D. Scott Neal Inc. now owns 7,441 shares of the company’s stock worth $234,000 after buying an additional 93 shares during the period. Institutional investors own 55.81% of the company’s stock.

General Electric Co. (NYSE:GE) traded up 2.06% during midday trading on Friday, hitting $29.22. The stock had a trading volume of 67,870,824 shares. The company has a market cap of $260.17 billion, a P/E ratio of 25.19 and a beta of 1.15. General Electric Co. has a one year low of $27.10 and a one year high of $33.00. The stock’s 50-day moving average is $29.37 and its 200-day moving average is $30.52.

General Electric (NYSE:GE) last released its quarterly earnings data on Friday, October 21st. The company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $29.30 billion for the quarter, compared to the consensus estimate of $29.64 billion. General Electric had a return on equity of 16.07% and a net margin of 8.93%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 earnings per share. Equities analysts predict that General Electric Co. will post $1.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Thursday, September 15th. General Electric’s payout ratio is 80.00%.

GE has been the subject of a number of recent research reports. Goldman Sachs Group Inc. set a $28.00 target price on General Electric and gave the company a “neutral” rating in a research note on Friday, September 30th. JPMorgan Chase & Co. set a $28.00 target price on General Electric and gave the company a “sell” rating in a research note on Friday, September 23rd. Stifel Nicolaus set a $31.00 target price on General Electric and gave the company a “buy” rating in a research note on Wednesday, October 12th. Morgan Stanley set a $32.00 target price on General Electric and gave the company a “hold” rating in a research note on Wednesday, August 31st. Finally, Zacks Investment Research lowered General Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $32.54.

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