Varma Mutual Pension Insurance Co Acquires Shares of 150,000 General Electric (NYSE:GE)

Varma Mutual Pension Insurance Co acquired a new stake in General Electric (NYSE:GEGet Rating) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 150,000 shares of the conglomerate’s stock, valued at approximately $9,550,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tcwp LLC acquired a new position in shares of General Electric during the 1st quarter worth $28,000. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of General Electric by 808.1% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after buying an additional 299 shares in the last quarter. Core Alternative Capital raised its holdings in shares of General Electric by 736.2% during the 1st quarter. Core Alternative Capital now owns 393 shares of the conglomerate’s stock worth $36,000 after buying an additional 346 shares in the last quarter. James Investment Research Inc. acquired a new position in shares of General Electric during the 2nd quarter worth $28,000. Finally, Dravo Bay LLC acquired a new position in shares of General Electric during the 1st quarter worth $44,000. 67.09% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Up 0.7 %

Shares of General Electric stock traded up $0.57 on Thursday, hitting $87.87. 3,655,685 shares of the company’s stock traded hands, compared to its average volume of 6,039,570. General Electric has a one year low of $59.93 and a one year high of $103.73. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.10 and a quick ratio of 0.78. The company has a fifty day moving average of $73.13 and a two-hundred day moving average of $72.35. The company has a market capitalization of $96.01 billion, a price-to-earnings ratio of -15.89, a price-to-earnings-growth ratio of 4.91 and a beta of 1.21.

General Electric (NYSE:GEGet Rating) last announced its earnings results on Tuesday, October 25th. The conglomerate reported $0.35 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.12). General Electric had a negative net margin of 7.78% and a positive return on equity of 7.20%. The business had revenue of $19.08 billion for the quarter, compared to the consensus estimate of $18.77 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, sell-side analysts expect that General Electric will post 2.54 earnings per share for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 25th. Investors of record on Tuesday, September 27th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 26th. General Electric’s dividend payout ratio (DPR) is currently -5.79%.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research analyst reports. Credit Suisse Group lowered their price target on General Electric from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. StockNews.com initiated coverage on General Electric in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Wells Fargo & Company boosted their price objective on General Electric from $73.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 26th. Royal Bank of Canada boosted their price objective on General Electric from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $92.00 to $89.00 in a research report on Wednesday, October 26th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

General Electric Company Profile

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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

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