General Electric (NYSE:GE) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its holdings in shares of General Electric (NYSE:GE) by 719.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 345,886 shares of the conglomerate’s stock after buying an additional 303,700 shares during the period. Public Sector Pension Investment Board’s holdings in General Electric were worth $65,227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Janus Henderson Group PLC lifted its holdings in General Electric by 38.7% in the 1st quarter. Janus Henderson Group PLC now owns 149,769 shares of the conglomerate’s stock worth $26,280,000 after buying an additional 41,795 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in General Electric by 2.6% in the 1st quarter. Citizens Financial Group Inc. RI now owns 4,622 shares of the conglomerate’s stock worth $811,000 after buying an additional 115 shares in the last quarter. Strategic Wealth Partners Ltd. acquired a new position in General Electric in the 1st quarter worth $203,000. LRI Investments LLC acquired a new position in General Electric in the 1st quarter worth $325,000. Finally, Sanibel Captiva Trust Company Inc. lifted its holdings in General Electric by 36.1% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 15,024 shares of the conglomerate’s stock worth $2,637,000 after buying an additional 3,985 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on GE shares. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. UBS Group boosted their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada dropped their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.93.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

General Electric Price Performance

Shares of NYSE:GE opened at $180.61 on Thursday. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80. 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 company has a market cap of $195.47 billion, a PE ratio of 31.74, a P/E/G ratio of 1.77 and a beta of 1.19. The firm has a 50-day simple moving average of $183.23 and a 200 day simple moving average of $171.44.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 19.68%.

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.