Healthcare of Ontario Pension Plan Trust Fund Sells 582,232 Shares of General Electric (NYSE:GE)

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in shares of General Electric (NYSE:GE) by 93.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,001 shares of the conglomerate’s stock after selling 582,232 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in General Electric were worth $6,359,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of GE. Studio Investment Management LLC increased its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of General Electric during the second quarter worth about $31,000. Richardson Financial Services Inc. bought a new stake in shares of General Electric during the first quarter worth about $34,000. Financial Connections Group Inc. bought a new stake in shares of General Electric during the second quarter worth about $32,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of General Electric during the first quarter worth about $37,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE opened at $187.02 on Friday. 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 $190.88. The company’s fifty day moving average price is $173.52 and its 200-day moving average price is $166.17. The firm has a market capitalization of $204.71 billion, a price-to-earnings ratio of 61.32, a PEG ratio of 1.87 and a beta of 1.18.

General Electric (NYSE:GE) last announced its quarterly earnings results 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. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the prior year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared 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 is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented 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. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein started coverage on shares of General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. UBS Group upped their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Jefferies Financial Group upped their price target 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. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

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.