Livforsakringsbolaget Skandia Omsesidigt Has $4.61 Million Stock Holdings in General Electric (NYSE:GE)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in General Electric (NYSE:GE) by 93.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,432 shares of the conglomerate’s stock after buying an additional 11,827 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in General Electric were worth $4,611,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Newport Trust Company LLC bought a new position in General Electric in the second quarter worth approximately $2,613,332,000. Capital World Investors raised its holdings in General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Capital International Investors lifted its stake in shares of 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 buying an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings 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. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of General Electric during the second quarter worth about $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 1.6 %

General Electric stock opened at $191.20 on Friday. The firm has a 50 day simple moving average of $175.61 and a 200 day simple moving average of $166.65. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $84.42 and a 1-year high of $191.76. The firm has a market capitalization of $207.32 billion, a price-to-earnings ratio of 45.31, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (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 company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous 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, analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.59%. General Electric’s dividend payout ratio (DPR) is currently 26.54%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GE. 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 research report on Friday, June 28th. Wells Fargo & Company lifted their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, UBS Group raised their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $195.14.

General Electric Company 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.