General Electric (NYSE:GE) Shares Bought by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. boosted its holdings in shares of General Electric (NYSE:GE) by 7.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 234,820 shares of the conglomerate’s stock after purchasing an additional 16,210 shares during the period. General Electric makes up approximately 1.6% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 21st biggest position. Nippon Life Global Investors Americas Inc.’s holdings in General Electric were worth $37,329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Newport Trust Company LLC purchased a new stake in shares of General Electric in the 2nd quarter valued at approximately $2,613,332,000. Capital World Investors grew its position 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 worth $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Capital International Investors raised its position in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board lifted its stake in 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 worth $1,250,079,000 after acquiring an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in General Electric during the 2nd quarter worth about $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GE shares. Barclays upped 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. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Financial Group boosted their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.36.

General Electric Stock Up 0.7 %

General Electric stock opened at $187.43 on Monday. 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 fifty-two week low of $84.42 and a fifty-two week high of $187.99. The firm has a fifty day moving average price of $168.69 and a two-hundred day moving average price of $170.57. The firm has a market cap of $205.16 billion, a price-to-earnings ratio of 61.45, a P/E/G ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $8.44 billion. During the same period in the previous year, the company posted $0.68 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

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

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.