Healthcare of Ontario Pension Plan Trust Fund Has $30.17 Million Stock Position in General Electric (NYSE:GE)

Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of General Electric (NYSE:GE) by 300.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 160,001 shares of the conglomerate’s stock after purchasing an additional 120,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in General Electric were worth $30,173,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Glenmede Trust Co. NA boosted its stake in shares of General Electric by 1.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 93,751 shares of the conglomerate’s stock worth $17,680,000 after acquiring an additional 1,016 shares during the period. Cynosure Group LLC boosted its stake in shares of General Electric by 14.5% during the 3rd quarter. Cynosure Group LLC now owns 71,370 shares of the conglomerate’s stock worth $13,459,000 after acquiring an additional 9,041 shares during the period. Townsquare Capital LLC boosted its stake in shares of General Electric by 84.3% during the 3rd quarter. Townsquare Capital LLC now owns 55,601 shares of the conglomerate’s stock worth $10,485,000 after acquiring an additional 25,433 shares during the period. Shum Financial Group Inc. bought a new position in shares of General Electric during the 3rd quarter worth approximately $369,000. Finally, Settian Capital LP bought a new position in shares of General Electric during the 3rd quarter worth approximately $377,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup boosted their price target on 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 boosted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reduced their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Trading Down 2.2 %

NYSE GE opened at $180.61 on Thursday. The business’s 50-day moving average price is $183.23 and its two-hundred day moving average price is $171.44. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80. The firm has a market capitalization of $195.47 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

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

General Electric Announces Dividend

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

Insider Activity at General Electric

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

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.