Caprock Group LLC Boosts Position in General Electric (NYSE:GE)

Caprock Group LLC increased its holdings in General Electric (NYSE:GE) by 20.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,292 shares of the conglomerate’s stock after acquiring an additional 11,254 shares during the quarter. Caprock Group LLC’s holdings in General Electric were worth $10,380,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in GE. Capital World Investors grew its stake in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Norges Bank bought a new stake in shares of General Electric during the 4th quarter valued at $1,193,159,000. Capital International Investors boosted its holdings in shares of General Electric by 9.9% during the 1st 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 in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. bought a new position in shares of General Electric in the 1st quarter worth about $385,745,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 1.6 %

NYSE:GE opened at $161.23 on Friday. The company has a market cap of $176.48 billion, a PE ratio of 52.86, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a 50 day simple moving average of $165.78 and a two-hundred day simple moving average of $163.28. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. General Electric’s revenue was up 3.9% compared to the same quarter last year. Research analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. UBS Group upped their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Jefferies Financial Group raised their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company boosted their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.38.

About General Electric

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.