Healthcare of Ontario Pension Plan Trust Fund Buys 120,000 Shares of General Electric (NYSE:GE)

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in General Electric (NYSE:GE) by 300.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 160,001 shares of the conglomerate’s stock after purchasing an additional 120,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in General Electric were worth $30,173,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of GE. Newport Trust Company LLC acquired a new position in General Electric in the second quarter worth $2,613,332,000. Jennison Associates LLC boosted its stake in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in General Electric in the second quarter worth $580,200,000. International Assets Investment Management LLC boosted its stake in General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after purchasing an additional 3,158,153 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its stake in General Electric by 18,693.9% in the second quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after purchasing an additional 1,605,434 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent analyst reports. Royal Bank of Canada reduced their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. UBS Group upped their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Price Performance

Shares of GE opened at $180.61 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1 year low of $94.54 and a 1 year high of $194.80. The stock has a market cap of $195.47 billion, a P/E ratio of 31.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The stock’s 50-day moving average price is $183.23 and its two-hundred day moving average price is $171.44.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share. On average, equities analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

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

General Electric 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.