LMR Partners LLP Boosts Stock Position in General Electric (NYSE:GE)

LMR Partners LLP boosted its position in shares of General Electric (NYSE:GE) by 36.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,238 shares of the conglomerate’s stock after acquiring an additional 41,594 shares during the quarter. LMR Partners LLP’s holdings in General Electric were worth $29,463,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Capital International Investors boosted its stake in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Newport Trust Company LLC acquired a new stake in General Electric during the 2nd quarter worth approximately $2,613,332,000. Capital World Investors boosted its position in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the period. Legal & General Group Plc grew its stake in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after acquiring an additional 459,201 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of General Electric by 221.6% in 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 acquiring an additional 4,907,530 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GE. Wells Fargo & Company lifted their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Citigroup lifted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada cut their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, UBS Group increased 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. Two 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Down 0.8 %

NYSE:GE opened at $176.93 on Monday. The company has a market capitalization of $191.49 billion, a PE ratio of 31.09, a P/E/G ratio of 1.75 and a beta of 1.19. General Electric has a 52-week low of $93.05 and a 52-week high of $194.80. The stock’s 50 day moving average price is $182.29 and its 200 day moving average price is $170.71. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the firm posted $0.82 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s dividend payout ratio (DPR) is 19.68%.

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.