Public Sector Pension Investment Board Raises Holdings in General Electric (NYSE:GE)

Public Sector Pension Investment Board lifted its holdings in shares of General Electric (NYSE:GE) by 719.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 345,886 shares of the conglomerate’s stock after buying an additional 303,700 shares during the period. Public Sector Pension Investment Board’s holdings in General Electric were worth $65,227,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Tsfg LLC boosted its stake in shares of General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after buying an additional 55 shares during the period. Macroview Investment Management LLC lifted its position in General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares during the period. Strategic Advisors LLC lifted its position in General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its position in General Electric by 1.0% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after purchasing an additional 60 shares during the period. Finally, Allegheny Financial Group LTD lifted its position in General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 2.2 %

Shares of GE opened at $180.61 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $183.23 and a 200-day simple moving average of $171.44. General Electric has a 1-year low of $94.54 and a 1-year high of $194.80. The stock has a market cap of $195.47 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. Equities analysts forecast that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.62%. General Electric’s payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada reduced their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.