26,112,747 Shares in General Electric (NYSE:GE) Purchased by TCI Fund Management Ltd.

TCI Fund Management Ltd. bought a new position in shares of General Electric (NYSE:GE) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,112,747 shares of the conglomerate’s stock, valued at approximately $2,496,379,000. General Electric makes up approximately 8.5% of TCI Fund Management Ltd.’s portfolio, making the stock its 7th largest position. TCI Fund Management Ltd. owned about 2.40% of General Electric as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Prostatis Group LLC bought a new stake in General Electric in the fourth quarter valued at approximately $29,000. Silicon Valley Capital Partners bought a new stake in General Electric in the fourth quarter valued at approximately $31,000. Global Wealth Management Investment Advisory Inc. raised its stake in General Electric by 808.1% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after buying an additional 299 shares during the period. Syverson Strege & Co raised its stake in General Electric by 53.6% in the first quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock valued at $32,000 after buying an additional 118 shares during the period. Finally, Financial Freedom LLC bought a new stake in General Electric in the fourth quarter valued at approximately $32,000. Institutional investors own 74.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GE shares. Oppenheimer lowered General Electric from an “outperform” rating to a “market perform” rating in a research note on Monday, July 31st. Citigroup upped their target price on General Electric from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Bank of America upped their target price on General Electric from $108.00 to $120.00 in a research report on Thursday, July 6th. The Goldman Sachs Group upped their target price on General Electric from $121.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Finally, Wolfe Research upped their target price on General Electric from $107.00 to $125.00 in a research report on Wednesday, June 28th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Insider Buying and Selling

In other news, major shareholder General Electric Pension Trust acquired 35,160 shares of General Electric stock in a transaction that occurred on Friday, June 30th. The shares were acquired at an average price of $995.44 per share, for a total transaction of $34,999,670.40. Following the transaction, the insider now directly owns 175,160 shares of the company’s stock, valued at approximately $174,361,270.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder General Electric Pension Trust acquired 35,160 shares of General Electric stock in a transaction that occurred on Friday, June 30th. The shares were acquired at an average price of $995.44 per share, for a total transaction of $34,999,670.40. Following the transaction, the insider now directly owns 175,160 shares of the company’s stock, valued at approximately $174,361,270.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 112,614 shares of General Electric stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.20, for a total value of $12,973,132.80. Following the transaction, the senior vice president now directly owns 57,923 shares in the company, valued at $6,672,729.60. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by corporate insiders.

General Electric Trading Down 0.1 %

Shares of GE stock opened at $111.72 on Friday. The stock’s fifty day moving average price is $112.32 and its two-hundred day moving average price is $102.83. The company has a market cap of $121.59 billion, a PE ratio of 13.25, a P/E/G ratio of 6.89 and a beta of 1.28. General Electric has a fifty-two week low of $48.06 and a fifty-two week high of $117.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.25.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.22. The firm had revenue of $15.85 billion for the quarter, compared to the consensus estimate of $14.76 billion. General Electric had a return on equity of 9.30% and a net margin of 13.32%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. Equities analysts predict that General Electric will post 2.32 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, September 25th. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. General Electric’s dividend payout ratio is currently 3.80%.

General Electric Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.