General Electric (NYSE:GE) Stock Position Raised by Plato Investment Management Ltd

Plato Investment Management Ltd grew its position in shares of General Electric (NYSE:GE) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 29,985 shares of the conglomerate’s stock after purchasing an additional 186 shares during the quarter. Plato Investment Management Ltd’s holdings in General Electric were worth $5,649,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Newport Trust Company LLC bought a new position in General Electric in the second quarter valued at approximately $2,613,332,000. Capital World Investors raised its holdings in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the period. Capital International Investors lifted its position in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of General Electric during the 2nd quarter worth approximately $580,200,000. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GE shares. Wells Fargo & Company raised their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein raised their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. UBS Group raised their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Performance

Shares of General Electric stock opened at $183.54 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $181.35 and a two-hundred day simple moving average of $170.33. General Electric has a 12 month low of $92.46 and a 12 month high of $194.80. The firm has a market capitalization of $198.64 billion, a P/E ratio of 32.26, a P/E/G ratio of 1.80 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. On average, equities analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s payout ratio is 19.68%.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.66% of the company’s stock.

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.