Investment Management Corp of Ontario Has $10.18 Million Stock Holdings in General Electric (NYSE:GE)

Investment Management Corp of Ontario raised its holdings in General Electric (NYSE:GE) by 15.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,000 shares of the conglomerate’s stock after acquiring an additional 7,123 shares during the quarter. Investment Management Corp of Ontario’s holdings in General Electric were worth $10,183,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its stake in shares of General Electric by 589.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 68,026 shares of the conglomerate’s stock worth $12,828,000 after buying an additional 58,156 shares during the last quarter. Janus Henderson Group PLC increased its position in General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after acquiring an additional 1,593,413 shares during the period. HighTower Advisors LLC increased its position in General Electric by 5.3% during the third quarter. HighTower Advisors LLC now owns 437,748 shares of the conglomerate’s stock worth $82,665,000 after acquiring an additional 21,975 shares during the period. Hilltop Holdings Inc. increased its position in General Electric by 21.9% during the third quarter. Hilltop Holdings Inc. now owns 8,444 shares of the conglomerate’s stock worth $1,592,000 after acquiring an additional 1,519 shares during the period. Finally, Cinctive Capital Management LP bought a new position in General Electric during the third quarter worth $9,322,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

General Electric Stock Performance

General Electric stock opened at $181.00 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $195.89 billion, a PE ratio of 31.71, a PEG ratio of 1.79 and a beta of 1.17. The company’s 50-day moving average is $183.01 and its two-hundred day moving average is $171.80. General Electric has a 1 year low of $94.54 and a 1 year high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 EPS. Equities analysts anticipate that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s payout ratio is 19.68%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. UBS Group boosted their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

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.