General Electric (NYSE:GE) Stake Increased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its stake in shares of General Electric (NYSE:GE) by 70.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 887,943 shares of the conglomerate’s stock after acquiring an additional 367,077 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in General Electric were worth $167,448,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Capital International Investors lifted 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 worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC bought a new position in General Electric during the 2nd quarter worth approximately $2,613,332,000. Capital World Investors grew its position in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after acquiring an additional 12,312,648 shares in the last quarter. Legal & General Group Plc grew its position in shares of General Electric by 5.8% in the 2nd 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 increased its holdings in shares of General Electric by 221.6% in 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 during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of GE opened at $171.70 on Monday. The firm has a market capitalization of $185.83 billion, a PE ratio of 30.18, a P/E/G ratio of 1.70 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $180.20 and a 200 day moving average price of $169.19. General Electric has a 52-week low of $85.89 and a 52-week high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings results 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. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period in the prior year, the business posted $0.82 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analyst Weigh In

A number of research firms have commented on GE. Melius Research lifted their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned 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 $200.93.

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.