Gladstone Capital Management LLP Has $126.81 Million Stock Holdings in General Electric (NYSE:GE)

Gladstone Capital Management LLP boosted its position in shares of General Electric (NYSE:GE) by 1,783.0% during the second quarter, Holdings Channel.com reports. The fund owned 797,681 shares of the conglomerate’s stock after acquiring an additional 755,319 shares during the quarter. General Electric accounts for 11.2% of Gladstone Capital Management LLP’s investment portfolio, making the stock its 5th largest holding. Gladstone Capital Management LLP’s holdings in General Electric were worth $126,807,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares during the last quarter. Capital International Investors lifted its position 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 in the last quarter. Newport Trust Company LLC purchased a new position in General Electric during the 2nd quarter valued at approximately $2,613,332,000. Capital World Investors grew its holdings in 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 in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of General Electric by 221.6% during the 1st 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. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GE. Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. UBS Group lifted their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Sanford C. Bernstein assumed coverage on shares of General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a report on Friday. Finally, StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.36.

General Electric Price Performance

Shares of GE stock opened at $187.43 on Monday. The stock has a 50 day moving average price of $168.69 and a 200 day moving average price of $170.57. General Electric has a 52-week low of $84.42 and a 52-week high of $187.99. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a market capitalization of $205.16 billion, a P/E ratio of 61.45, a P/E/G ratio of 1.65 and a beta of 1.18.

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 the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. As a group, sell-side analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

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

General Electric 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.