General Electric (NYSE:GE) is Capital International Investors’ 10th Largest Position

Capital International Investors lessened its holdings in shares of General Electric (NYSE:GE) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,791,100 shares of the conglomerate’s stock after selling 143,737 shares during the period. General Electric makes up about 1.5% of Capital International Investors’ portfolio, making the stock its 10th biggest holding. Capital International Investors’ holdings in General Electric were worth $6,865,413,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Northern Trust Corp raised its stake in General Electric by 4.0% in the 3rd quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after acquiring an additional 410,061 shares during the last quarter. Norges Bank purchased a new position in General Electric in the 4th quarter worth $1,193,159,000. Morgan Stanley raised its stake in General Electric by 5.1% in the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after acquiring an additional 434,736 shares during the last quarter. Brown Advisory Inc. raised its stake in General Electric by 62.3% in the 4th quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock worth $623,058,000 after acquiring an additional 1,873,327 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in General Electric by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock worth $534,123,000 after purchasing an additional 318,245 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Activity

In other news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

General Electric Price Performance

GE traded up $0.90 during trading on Wednesday, reaching $162.28. The company’s stock had a trading volume of 2,266,900 shares, compared to its average volume of 7,472,828. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $161.07 and a two-hundred day simple moving average of $146.40. General Electric has a 1 year low of $82.11 and a 1 year high of $170.80. The company has a market cap of $177.63 billion, a price-to-earnings ratio of 52.69, a PEG ratio of 1.78 and a beta of 1.23.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. As a group, analysts anticipate that General Electric will post 3.98 EPS for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is presently 36.72%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group increased their price target on General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. The Goldman Sachs Group increased their price target on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Barclays cut their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Citigroup increased their price target on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Wells Fargo & Company raised their target price on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $176.00.

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.