IFM Investors Pty Ltd Has $40.74 Million Stake in General Electric (NYSE:GE)

by · The Markets Daily

IFM Investors Pty Ltd decreased its position in General Electric (NYSE:GE – Free Report) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 216,008 shares of the conglomerate’s stock after selling 873 shares during the quarter. IFM Investors Pty Ltd’s holdings in General Electric were worth $40,735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GE. Newport Trust Company LLC bought a new position in General Electric during the second quarter worth about $2,613,332,000. 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 purchasing an additional 12,312,648 shares during the period. Capital International Investors grew its holdings in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board grew its holdings in 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 worth $1,250,079,000 after purchasing an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in General Electric during the second quarter worth about $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada reduced their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday. Finally, Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

Read Our Latest Report on General Electric

General Electric Trading Down 0.9 %

NYSE GE traded down $1.55 on Thursday, reaching $180.14. The company had a trading volume of 1,524,879 shares, compared to its average volume of 6,364,843. The firm has a market cap of $197.18 billion, a price-to-earnings ratio of 59.51, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a fifty-two week low of $84.58 and a fifty-two week high of $194.80. The business has a 50 day moving average of $179.51 and a two-hundred day moving average of $168.15. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share. Analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

General Electric Profile

(Free Report)

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.

See Also

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