Public Sector Pension Investment Board Increases Stake in General Electric

The Public Sector Pension Investment Board significantly increased its stake in General Electric (NYSE:GE) by 719.9% during the third quarter, as noted in its latest Form 13F filing with the Securities and Exchange Commission (SEC). After acquiring an additional 303,700 shares, the firm now holds a total of 345,886 shares in the company, which are valued at approximately $65,227,000 at the close of the latest quarter.

In addition to the Public Sector Pension Investment Board, several other investment funds have adjusted their positions in General Electric. Tsfg LLC expanded its shares by 12.8% in the third quarter, bringing its total to 485 shares worth $92,000 after adding 55 shares. Similarly, Macroview Investment Management LLC increased its holdings by 37.9% in the previous quarter, owning 211 shares valued at $34,000 following the purchase of 58 shares. Strategic Advisors LLC also acquired more shares, raising its stake by 2.6% to own 2,267 shares worth $428,000 after adding 58 shares. Mitchell Mcleod Pugh & Williams Inc. raised its position by 1.0%, now owning 6,299 shares valued at $1,188,000 after buying 60 more shares. Finally, Allegheny Financial Group LTD increased its share count by 1.4%, reaching 4,489 shares valued at $714,000 after an additional 61 shares were purchased. Overall, institutional investors and hedge funds own about 74.77% of General Electric's stock.

Current Market Performance

On Thursday, General Electric stock opened at $180.61, reflecting a 2.2% decline. The company has a debt-to-equity ratio of 0.95, current ratio of 1.13, and a quick ratio of 0.85. Its 50-day and 200-day moving averages are $183.23 and $171.44, respectively. Over the past year, the stock has hit a low of $94.54 and reached a high of $194.80. General Electric boasts a market capitalization of $195.47 billion and a price-to-earnings ratio of 31.74, alongside a price-to-earnings-growth ratio of 1.77 and a beta of 1.19.

Recent Earnings Report

General Electric recently released its quarterly earnings data on October 22nd, reporting earnings per share (EPS) of $1.15. This surpassed analysts' expectations, which were set at $1.13, by $0.02. The company's revenue for the quarter totaled $9.84 billion, exceeding analysts' predictions of $9.02 billion. General Electric achieved a net margin of 11.48% and a return on equity of 18.93%, with a year-over-year revenue growth of 5.8%. Last year during the same period, the company reported an EPS of $0.82. Analysts expect General Electric to post an EPS of 4.24 for the ongoing fiscal year.

Dividend Announcement

General Electric has also declared a quarterly dividend, which was paid on October 25th. Shareholders who were on record as of September 26th received a dividend of $0.28. The ex-dividend date was also September 26th. This translates to an annualized dividend of $1.12 and a yield of 0.62%. The company's current payout ratio is noted at 19.68%.

Analysts' Perspectives

Several equity research analysts have recently given their opinions on General Electric shares. UBS Group raised its price target on the stock from $223.00 to $230.00, maintaining a "buy" rating. Citigroup followed suit, increasing its price target from $198.00 to $216.00, also marking it as a "buy." Melius Research elevated its price objective from $194.00 to $202.00, while Royal Bank of Canada reduced its target from $210.00 to $200.00, rating it as "outperform." Wells Fargo & Company increased its price target from $205.00 to $210.00 and classified it as "overweight." Currently, two analysts rate the stock as a hold, and fourteen have given it a buy rating, leading to an overall average rating of "Moderate Buy" with a consensus target price of $200.93.

Insider Transactions

In recent insider trading news, Senior Vice President Riccardo Procacci sold 7,000 shares on November 6th for an average price of $181.13, resulting in a transaction total of $1,267,910.00. After the sale, Procacci holds 13,289 shares valued at roughly $2,407,037. Meanwhile, Senior Vice President Russell Stokes sold 15,550 shares on November 18th at an average price of $178.29, totaling $2,772,409.50. Stokes now owns 148,857 shares valued at about $26,539,715. Overall, corporate insiders own 0.66% of the company's stock.

About General Electric

General Electric Company, operating under the name GE Aerospace, designs and manufactures commercial and defense aircraft engines, integrated engine components, as well as electric power and mechanical aircraft systems. The company also provides aftermarket services to support its products and operates globally across multiple regions, including the United States, Europe, Asia, the Middle East, and Africa.

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