TD Asset Management Inc Has $80.56 Million Stock Holdings in General Electric (NYSE:GE)

TD Asset Management Inc cut its holdings in General Electric (NYSE:GE) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 458,947 shares of the conglomerate’s stock after selling 11,679 shares during the quarter. TD Asset Management Inc’s holdings in General Electric were worth $80,559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. Prime Capital Investment Advisors LLC boosted its holdings in General Electric by 29.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after acquiring an additional 6,419 shares during the last quarter. Fifth Third Bancorp boosted its holdings in General Electric by 12.5% during the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after buying an additional 28,985 shares during the last quarter. USA Financial Formulas boosted its holdings in General Electric by 24,042.9% during the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock worth $1,294,000 after buying an additional 10,098 shares during the last quarter. Grandfield & Dodd LLC increased its stake in shares of General Electric by 9.3% in the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after acquiring an additional 22,998 shares during the last quarter. Finally, Rathbones Group PLC increased its stake in General Electric by 2.7% in the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after purchasing an additional 5,997 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price objective on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. StockNews.com started coverage on General Electric in a report on Monday, April 29th. They set a “hold” rating for the company. Bank of America upped their price target on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Argus upped their price target on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Barclays reduced their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.93.

General Electric Stock Performance

General Electric stock traded up $0.99 during mid-day trading on Friday, hitting $159.78. 1,775,885 shares of the company’s stock traded hands, compared to its average volume of 7,063,755. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $161.89 and a two-hundred day simple moving average of $154.68. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $170.80. The stock has a market cap of $174.90 billion, a price-to-earnings ratio of 52.39, a P/E/G ratio of 1.66 and a beta of 1.21.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter last year, the company posted $0.27 EPS. General Electric’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts expect that General Electric will post 4.02 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s payout ratio is 36.72%.

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.