10,000 Shares in General Electric (NYSE:GE) Acquired by Power Corp of Canada

Power Corp of Canada acquired a new position in General Electric (NYSE:GE) during the first quarter, according to its most recent filing with the SEC. The firm acquired 10,000 shares of the conglomerate’s stock, valued at approximately $914,000.

A number of other large investors have also recently made changes to their positions in the business. Rockefeller Capital Management L.P. grew its position in shares of General Electric by 33.1% in the 1st quarter. Rockefeller Capital Management L.P. now owns 823,617 shares of the conglomerate’s stock worth $78,736,000 after buying an additional 204,903 shares during the last quarter. Providence Capital Advisors LLC grew its position in shares of General Electric by 9,460.0% in the 1st quarter. Providence Capital Advisors LLC now owns 289,477 shares of the conglomerate’s stock worth $3,028,000 after buying an additional 286,449 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its position in shares of General Electric by 0.6% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 641,316 shares of the conglomerate’s stock worth $61,310,000 after buying an additional 3,583 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of General Electric during the first quarter valued at approximately $98,000. Finally, D L Carlson Investment Group Inc. bought a new stake in shares of General Electric during the first quarter valued at approximately $3,324,000. 74.83% of the stock is currently owned by institutional investors.

General Electric Stock Up 0.6 %

GE stock opened at $115.00 on Wednesday. General Electric has a 1-year low of $48.06 and a 1-year high of $117.96. The business has a fifty day moving average price of $112.57 and a 200-day moving average price of $103.41. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.90. The stock has a market capitalization of $125.16 billion, a P/E ratio of 13.64, a P/E/G ratio of 6.89 and a beta of 1.28.

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

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Tuesday, September 26th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Monday, September 25th. General Electric’s dividend payout ratio is currently 3.80%.

Insider Transactions at General Electric

In related news, SVP Michael J. Holston sold 112,614 shares of General Electric stock in a transaction on 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 completion of the sale, the senior vice president now owns 57,923 shares of the company’s stock, valued at $6,672,729.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Michael J. Holston sold 112,614 shares of General Electric stock in a transaction on 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 completion of the sale, the senior vice president now owns 57,923 shares of the company’s stock, valued at $6,672,729.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder General Electric Pension Trust acquired 35,160 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was purchased at an average cost of $995.44 per share, with a total value of $34,999,670.40. Following the acquisition, the insider now directly owns 175,160 shares of the company’s stock, valued at $174,361,270.40. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wolfe Research lifted their price target on General Electric from $107.00 to $125.00 in a research report on Wednesday, June 28th. Argus lifted their price target on General Electric from $112.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Morgan Stanley lifted their price target on General Electric from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Oppenheimer lowered General Electric from an “outperform” rating to a “market perform” rating in a research report on Monday, July 31st. Finally, Jefferies Financial Group lifted their price target on General Electric from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, July 17th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.00.

General Electric Company 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.