Royal London Asset Management Ltd. Raises Stock Holdings in General Electric (NYSE:GE)

Royal London Asset Management Ltd. raised its position in shares of General Electric (NYSE:GE) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 458,598 shares of the conglomerate’s stock after buying an additional 6,851 shares during the quarter. Royal London Asset Management Ltd.’s holdings in General Electric were worth $72,903,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Rathbones Group PLC increased its position in General Electric by 2.7% during the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after buying an additional 5,997 shares in the last quarter. Vanguard Group Inc. increased 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 valued at $11,288,136,000 after acquiring an additional 550,996 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of General Electric by 3.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 288,224 shares of the conglomerate’s stock worth $36,786,000 after purchasing an additional 8,788 shares during the last quarter. GAMMA Investing LLC boosted its stake in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after purchasing an additional 3,442 shares in the last quarter. Finally, Makena Capital Management LLC grew its position in General Electric by 26.2% during the 4th quarter. Makena Capital Management LLC now owns 149,855 shares of the conglomerate’s stock valued at $19,126,000 after purchasing an additional 31,107 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 2.6 %

Shares of GE opened at $165.35 on Tuesday. The business’s 50 day moving average is $165.91 and its 200 day moving average is $163.48. 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 12-month low of $84.42 and a 12-month high of $177.20. The company has a market capitalization of $180.99 billion, a PE ratio of 54.21, a price-to-earnings-growth ratio of 1.60 and a beta of 1.18.

General Electric (NYSE:GE) last announced its quarterly earnings results 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 net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the firm posted $0.68 EPS. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts expect 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 given a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.68%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analysts Set New Price Targets

Several brokerages have commented on GE. Royal Bank of Canada increased their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays lifted their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. UBS Group upped their target price 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. JPMorgan Chase & Co. lifted their price target on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Finally, Jefferies Financial Group boosted their price objective 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. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.38.

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.