BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $33.29 Million Stock Holdings in General Electric (NYSE:GE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of General Electric (NYSE:GE) by 60.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 209,407 shares of the conglomerate’s stock after purchasing an additional 79,024 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in General Electric were worth $33,289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GE. Macroview Investment Management LLC raised its stake in shares of General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. Allegheny Financial Group LTD grew its holdings in General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after purchasing an additional 61 shares during the last quarter. New England Research & Management Inc. raised its position in shares of General Electric by 2.2% in the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after purchasing an additional 63 shares during the period. Certified Advisory Corp lifted its stake in shares of General Electric by 1.0% in the second quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock worth $1,045,000 after buying an additional 63 shares during the last quarter. Finally, Argent Trust Co boosted its holdings in shares of General Electric by 0.6% during the 2nd quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock worth $1,707,000 after buying an additional 64 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE GE opened at $188.71 on Tuesday. General Electric has a twelve month low of $84.42 and a twelve month high of $189.78. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock has a market cap of $206.56 billion, a P/E ratio of 61.87, a PEG ratio of 1.65 and a beta of 1.18. The company’s 50-day simple moving average is $169.27 and its 200 day simple moving average is $170.43.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. As a group, research 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 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. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.59%. General Electric’s payout ratio is presently 36.72%.

Wall Street Analysts Forecast Growth

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

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.