Plato Investment Management Ltd Has $4.74 Million Stock Position in General Electric (NYSE:GE)

Plato Investment Management Ltd lifted its holdings in shares of General Electric (NYSE:GE) by 19.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,799 shares of the conglomerate’s stock after acquiring an additional 4,858 shares during the period. Plato Investment Management Ltd’s holdings in General Electric were worth $4,737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in General Electric by 0.6% during the 4th 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. Capital International Investors boosted its position in shares of General Electric by 9.9% during 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. Capital World Investors grew its holdings in General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Norges Bank purchased a new stake in General Electric in the 4th quarter valued at $1,193,159,000. Finally, Canada Pension Plan Investment Board lifted its stake in General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after acquiring an additional 4,907,530 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GE. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Barclays lifted their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein assumed coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Stock Up 5.1 %

GE stock opened at $178.28 on Friday. The stock has a fifty day moving average of $166.57 and a 200-day moving average of $171.27. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $179.32. The company has a market capitalization of $195.15 billion, a price-to-earnings ratio of 58.45, a PEG ratio of 1.65 and a beta of 1.18. 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 (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion during 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 company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $0.68 earnings per share. As a group, equities research analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.28 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio is 36.72%.

General Electric Company 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.