General Electric (NYSE:GE) Position Lessened by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co lowered its position in General Electric (NYSE:GE) by 8.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,108 shares of the conglomerate’s stock after selling 18,121 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in General Electric were worth $31,811,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GE. USA Financial Formulas increased its holdings in General Electric by 24,042.9% in the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock worth $1,294,000 after buying an additional 10,098 shares during the last quarter. Rathbones Group PLC raised its holdings in shares of General Electric by 2.7% during the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after purchasing an additional 5,997 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of General Electric by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock valued at $534,123,000 after purchasing an additional 318,245 shares during the last quarter. Vanguard Group Inc. boosted its holdings in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after purchasing an additional 550,996 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in General Electric by 3.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 288,224 shares of the conglomerate’s stock worth $36,786,000 after buying an additional 8,788 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of GE traded down $2.62 on Friday, reaching $161.23. 3,954,854 shares of the stock traded hands, compared to its average volume of 6,700,422. The stock’s 50-day moving average price is $165.78 and its 200-day moving average price is $163.28. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a market cap of $176.48 billion, a price-to-earnings ratio of 52.86, a P/E/G ratio of 1.73 and a beta of 1.18. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. Equities analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Jefferies Financial Group boosted their price objective 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. Wells Fargo & Company raised their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Finally, UBS Group raised their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $190.38.

General Electric Profile

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.