AlTi Global Inc. Has $1.18 Million Position in General Electric (NYSE:GE)

AlTi Global Inc. lifted its position in General Electric (NYSE:GE) by 36.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,447 shares of the conglomerate’s stock after buying an additional 1,991 shares during the period. AlTi Global Inc.’s holdings in General Electric were worth $1,184,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares in the last quarter. Capital International Investors lifted its stake in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC bought a new position in shares of General Electric in the 2nd quarter valued at about $2,613,332,000. Capital World Investors grew its position in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

Shares of General Electric stock opened at $189.34 on Thursday. The stock has a market cap of $205.30 billion, a price-to-earnings ratio of 62.08, a P/E/G ratio of 1.87 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $190.88. The company’s fifty day moving average is $169.81 and its 200 day moving average is $170.28. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating 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 firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

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. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.59%. General Electric’s payout ratio is 36.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GE. Barclays raised their target price 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. Jefferies Financial Group boosted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group lifted their price objective 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. StockNews.com downgraded 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 research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $191.36.

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.