Canada Pension Plan Investment Board Has $31.70 Million Position in General Electric (NYSE:GE)

Canada Pension Plan Investment Board lowered its stake in General Electric (NYSE:GE) by 37.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 288,583 shares of the conglomerate’s stock after selling 173,300 shares during the quarter. Canada Pension Plan Investment Board’s holdings in General Electric were worth $31,701,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GE. TCI Fund Management Ltd. bought a new stake in shares of General Electric in the first quarter worth $2,496,379,000. Moneta Group Investment Advisors LLC lifted its position in shares of General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after purchasing an additional 13,427,079 shares in the last quarter. Norges Bank bought a new stake in shares of General Electric in the fourth quarter worth $635,274,000. State Street Corp lifted its position in shares of General Electric by 17.3% in the first quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock worth $4,639,533,000 after purchasing an additional 7,157,356 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of General Electric by 106,570.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 6,248,759 shares of the conglomerate’s stock worth $686,426,000 after purchasing an additional 6,242,901 shares in the last quarter. Institutional investors own 74.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GE shares. Royal Bank of Canada upped their price target on shares of General Electric from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. Barclays upped their price target on shares of General Electric from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 25th. Argus upped their price objective on shares of General Electric from $112.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Oppenheimer downgraded shares of General Electric from an “outperform” rating to a “market perform” rating in a report on Monday, July 31st. Finally, The Goldman Sachs Group upped their price objective on shares of General Electric from $121.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.93.

General Electric Trading Up 1.5 %

GE opened at $117.25 on Wednesday. The stock has a market capitalization of $127.61 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 3.26 and a beta of 1.26. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.65. General Electric has a twelve month low of $59.57 and a twelve month high of $117.96. The company has a 50-day simple moving average of $111.32 and a 200 day simple moving average of $109.22.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The firm had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $15.46 billion. General Electric had a net margin of 14.38% and a return on equity of 11.10%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. Analysts predict that General Electric will post 2.65 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, September 25th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. General Electric’s dividend payout ratio (DPR) is presently 3.61%.

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.