Gamco Investors INC. ET AL Grows Stock Holdings in General Electric (NYSE:GE)

Gamco Investors INC. ET AL raised its position in shares of General Electric (NYSE:GE) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,249 shares of the conglomerate’s stock after buying an additional 830 shares during the quarter. Gamco Investors INC. ET AL’s holdings in General Electric were worth $7,240,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board lifted its position in shares of General Electric by 221.6% during 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. Capital World Investors raised 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 purchasing an additional 12,312,648 shares during the last quarter. Capital International Sarl raised its position in shares of General Electric by 132.3% in the 1st quarter. Capital International Sarl now owns 136,099 shares of the conglomerate’s stock valued at $23,889,000 after purchasing an additional 77,522 shares during the last quarter. Toronto Dominion Bank raised its position in shares of General Electric by 2.0% in the 1st quarter. Toronto Dominion Bank now owns 649,198 shares of the conglomerate’s stock valued at $113,954,000 after purchasing an additional 12,799 shares during the last quarter. Finally, Capital International Ltd. CA raised its position in shares of General Electric by 91.3% in the 1st quarter. Capital International Ltd. CA now owns 79,292 shares of the conglomerate’s stock valued at $13,918,000 after purchasing an additional 37,852 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

NYSE GE traded up $5.14 on Friday, hitting $169.81. The company had a trading volume of 7,297,730 shares, compared to its average volume of 5,743,017. The company has a market capitalization of $184.13 billion, a PE ratio of 55.68, a PEG ratio of 1.76 and a beta of 1.21. The company’s fifty day moving average price is $162.35 and its 200-day moving average price is $156.49. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.82. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. As a group, analysts predict that General Electric will post 4.13 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Analysts Set New Price Targets

Several equities analysts recently commented on GE shares. Royal Bank of Canada increased their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and increased their price objective for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Citigroup increased their price objective on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. StockNews.com initiated coverage on shares of General Electric in a research report on Monday, April 29th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group raised their price target on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $183.93.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.66% of the company’s stock.

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.