General Electric (NYSE:GE) Shares Purchased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc raised its position in shares of General Electric (NYSE:GE) by 280.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,485,097 shares of the conglomerate’s stock after purchasing an additional 1,095,093 shares during the quarter. Ensign Peak Advisors Inc’s holdings in General Electric were worth $236,086,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Newport Trust Company LLC acquired a new stake in shares of General Electric in the second quarter worth $2,613,332,000. Capital World Investors raised its stake in shares of General Electric by 2,818.1% during 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 last quarter. 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 worth $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board raised its position 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 valued at $1,250,079,000 after acquiring an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in General Electric in the 2nd quarter worth approximately $580,200,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE:GE opened at $187.39 on Friday. The company has a market cap of $205.12 billion, a P/E ratio of 61.44, a P/E/G ratio of 1.65 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $187.99. The company’s 50-day moving average price is $168.69 and its 200-day moving average price is $170.96. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released 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 business had revenue of $9.09 billion for 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 business’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. On average, sell-side analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group upped their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada raised their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Sanford C. Bernstein initiated coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price for the company. Finally, Wells Fargo & Company increased their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.36.

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.