Ontario Teachers Pension Plan Board Acquires New Stake in General Electric (GE)

Ontario Teachers Pension Plan Board acquired a new stake in shares of General Electric (NYSE:GE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,869,868 shares of the conglomerate’s stock, valued at approximately $52,669,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Fusion Family Wealth LLC lifted its holdings in General Electric by 153.3% in the second quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock valued at $112,000 after acquiring an additional 5,002 shares during the period. Mount Yale Investment Advisors LLC bought a new position in General Electric in the first quarter valued at about $116,000. Archford Capital Strategies LLC bought a new position in General Electric in the first quarter valued at about $121,000. Blue Chip Wealth Management Inc. bought a new position in General Electric in the first quarter valued at about $135,000. Finally, Harborview Advisors LLC bought a new position in General Electric in the first quarter valued at about $137,000. 53.81% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on GE. Royal Bank of Canada set a $15.00 target price on General Electric and gave the company a “neutral” rating in a report on Monday, July 23rd. Credit Suisse Group reissued a “neutral” rating and issued a $12.00 target price on shares of General Electric in a report on Wednesday, October 31st. Deutsche Bank lowered their target price on General Electric from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, October 31st. Citigroup lowered their target price on General Electric from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Finally, Barclays lowered their target price on General Electric from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, October 31st. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and a consensus price target of $14.94.

In other General Electric news, Chairman H Lawrence Culp, Jr. bought 225,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average price of $9.73 per share, with a total value of $2,189,250.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Alexander Dimitrief bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average cost of $9.48 per share, for a total transaction of $94,800.00. Following the purchase, the senior vice president now directly owns 103,075 shares in the company, valued at approximately $977,151. The disclosure for this purchase can be found here. 1.12% of the stock is owned by company insiders.

NYSE GE opened at $9.10 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.36 and a current ratio of 1.66. General Electric has a 52 week low of $9.05 and a 52 week high of $20.75. The stock has a market capitalization of $81.79 billion, a PE ratio of 8.67, a P/E/G ratio of 2.53 and a beta of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The company had revenue of $29.57 billion during the quarter, compared to the consensus estimate of $30.08 billion. During the same period last year, the business earned $0.29 EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts predict that General Electric will post 0.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, September 17th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend was Friday, September 14th. General Electric’s dividend payout ratio (DPR) is currently 45.71%.

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General Electric Company Profile

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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