Headlands Technologies LLC Trims Holdings in General Electric (NYSE:GE)

Headlands Technologies LLC trimmed its position in General Electric (NYSE:GE) by 81.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 966 shares of the conglomerate’s stock after selling 4,125 shares during the period. Headlands Technologies LLC’s holdings in General Electric were worth $154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in shares of 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 acquiring an additional 12,312,648 shares during the period. Norges Bank purchased a new position in shares of General Electric during the 4th quarter worth about $1,193,159,000. Capital International Investors lifted its holdings in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board lifted 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 during the period. Finally, Evergreen Quality Fund GP Ltd. purchased a new position in shares of General Electric during the 1st quarter worth about $385,745,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on GE shares. Sanford C. Bernstein started coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective on the stock. Jefferies Financial Group raised their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Barclays raised their price target 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. Wells Fargo & Company raised their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Stock Up 5.1 %

GE stock opened at $178.28 on Friday. General Electric has a twelve month low of $84.42 and a twelve month high of $179.32. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $195.15 billion, a P/E ratio of 58.45, a PEG ratio of 1.65 and a beta of 1.18. The firm has a 50 day simple moving average of $166.57 and a 200-day simple moving average of $171.27.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $8.44 billion. During the same quarter last year, the company earned $0.68 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is presently 36.72%.

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.