Intech Investment Management LLC Purchases 2,488 Shares of General Electric (NYSE:GE)

Intech Investment Management LLC increased its position in shares of General Electric (NYSE:GE) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 220,246 shares of the conglomerate’s stock after buying an additional 2,488 shares during the period. Intech Investment Management LLC’s holdings in General Electric were worth $35,013,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GE. Capital World Investors raised its stake 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 purchasing an additional 12,312,648 shares during the last quarter. Capital International Investors raised its stake in General Electric by 9.9% during the 1st 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 last quarter. Canada Pension Plan Investment Board raised its stake in 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 valued at $1,250,079,000 after purchasing an additional 4,907,530 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in General Electric during the 2nd quarter valued at $580,200,000. Finally, Evergreen Quality Fund GP Ltd. acquired a new position in General Electric during the 1st quarter valued at $385,745,000. 74.77% of the stock is owned by institutional investors.

General Electric Stock Up 1.4 %

Shares of GE opened at $186.16 on Friday. The company has a market capitalization of $203.77 billion, a P/E ratio of 61.04, a PEG ratio of 1.65 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. General Electric has a one year low of $84.42 and a one year high of $187.99. The business’s 50 day simple moving average is $168.12 and its 200-day simple moving average is $171.06.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the business earned $0.68 EPS. General Electric’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently commented on GE. Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Barclays increased their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada increased their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company increased their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus price target of $191.14.

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.