Healthcare of Ontario Pension Plan Trust Fund Has $257,000 Stock Position in General Electric (NYSE:GE)

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in General Electric (NYSE:GE – Get Rating) by 9.5% during the third quarter, Holdings Channel.com reports. The fund owned 4,159 shares of the conglomerate’s stock after selling 436 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in General Electric were worth $257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of General Electric by 8.4% in the second quarter. FMR LLC now owns 66,963,503 shares of the conglomerate’s stock worth $4,263,567,000 after acquiring an additional 5,197,786 shares during the period. Dodge & Cox lifted its stake in shares of General Electric by 178.6% in the second quarter. Dodge & Cox now owns 28,966,680 shares of the conglomerate’s stock worth $1,844,309,000 after acquiring an additional 18,569,368 shares during the period. Pzena Investment Management LLC lifted its stake in shares of General Electric by 5.6% in the third quarter. Pzena Investment Management LLC now owns 13,761,615 shares of the conglomerate’s stock worth $851,982,000 after acquiring an additional 725,871 shares during the period. Northern Trust Corp lifted its stake in shares of General Electric by 1.2% in the second quarter. Northern Trust Corp now owns 10,668,591 shares of the conglomerate’s stock worth $679,270,000 after acquiring an additional 127,322 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of General Electric by 2.8% in the second quarter. Legal & General Group Plc now owns 7,871,992 shares of the conglomerate’s stock worth $501,211,000 after acquiring an additional 213,008 shares during the period. 70.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Bank of America lifted their price objective on General Electric from $85.00 to $92.00 in a research note on Wednesday, January 25th. Oppenheimer upgraded General Electric from a “market perform” rating to an “outperform” rating and set a $104.00 target price for the company in a report on Tuesday, December 6th. Morgan Stanley lowered their target price on General Electric from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, January 23rd. UBS Group lowered their target price on General Electric from $98.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, January 12th. Finally, TheStreet upgraded General Electric from a “c” rating to a “b-” rating in a report on Friday, February 10th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.93.

General Electric Trading Up 1.9 %

NYSE GE opened at $85.72 on Friday. The company has a market cap of $93.37 billion, a price-to-earnings ratio of -2,857.33, a P/E/G ratio of 6.27 and a beta of 1.25. General Electric has a 52 week low of $46.55 and a 52 week high of $85.73. The business has a 50 day moving average price of $81.05 and a 200-day moving average price of $77.85. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.76.

General Electric (NYSE:GE – Get Rating) last announced its earnings results on Tuesday, January 24th. The conglomerate reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.13. The company had revenue of $21.79 billion for the quarter, compared to analysts’ expectations of $22.11 billion. General Electric had a return on equity of 8.47% and a net margin of 0.29%. General Electric’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 earnings per share. As a group, equities analysts expect that General Electric will post 1.93 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Tuesday, March 7th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, March 6th. This represents a $0.32 annualized dividend and a dividend yield of 0.37%. General Electric’s payout ratio is -1,066.67%.

About General Electric

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General Electric Co is a high-tech industrial company. the firm operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power. The Aviation segment designs and produces commercial and military aircraft engines, integrated engine components, electric power and mechanical aircraft systems.