1,349 Shares in General Electric (NYSE:GE) Acquired by Hanlon Investment Management Inc.

Hanlon Investment Management Inc. bought a new stake in shares of General Electric (NYSE:GE) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,349 shares of the conglomerate’s stock, valued at approximately $214,000.

Other hedge funds also recently bought and sold shares of the company. Capital World Investors raised its stake in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Norges Bank purchased a new stake in shares of General Electric during the fourth quarter worth about $1,193,159,000. Capital International Investors raised its position in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Evergreen Quality Fund GP Ltd. acquired a new stake in General Electric during the first quarter worth approximately $385,745,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GE. Wells Fargo & Company increased their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays upped their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. UBS Group raised their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Finally, Jefferies Financial Group increased their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $190.38.

General Electric Stock Performance

Shares of General Electric stock traded down $2.62 during trading on Friday, hitting $161.23. 3,954,854 shares of the stock were exchanged, compared to its average volume of 6,700,422. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20. The stock’s fifty day moving average is $165.78 and its 200 day moving average is $163.18. The stock has a market cap of $176.48 billion, a PE ratio of 52.88, a P/E/G ratio of 1.73 and a beta of 1.18.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. As a group, sell-side analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

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.