Canada Pension Plan Investment Board Purchases 781,574 Shares of General Electric (NYSE:GE)

Canada Pension Plan Investment Board raised its holdings in General Electric (NYSE:GE - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,551,038 shares of the conglomerate's stock after acquiring an additional 781,574 shares during the quarter. General Electric accounts for about 1.2% of Canada Pension Plan Investment Board's holdings, making the stock its 17th biggest position. Canada Pension Plan Investment Board owned about 0.70% of General Electric worth $1,259,438,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GE. Farringdon Capital Ltd. acquired a new stake in General Electric during the 4th quarter valued at $371,000. Gratus Wealth Advisors LLC boosted its holdings in shares of General Electric by 38.5% in the 4th quarter. Gratus Wealth Advisors LLC now owns 7,190 shares of the conglomerate's stock valued at $1,199,000 after purchasing an additional 2,000 shares during the last quarter. Advent Capital Management DE increased its holdings in shares of General Electric by 33.3% during the 4th quarter. Advent Capital Management DE now owns 16,000 shares of the conglomerate's stock worth $2,669,000 after buying an additional 4,000 shares during the last quarter. MSH Capital Advisors LLC acquired a new position in General Electric in the fourth quarter valued at $241,000. Finally, NewEdge Advisors LLC grew its position in General Electric by 3.4% during the fourth quarter. NewEdge Advisors LLC now owns 83,913 shares of the conglomerate's stock valued at $13,996,000 after acquiring an additional 2,776 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Down 2.8 %

Shares of GE traded down $5.15 during mid-day trading on Monday, hitting $176.64. 2,249,008 shares of the company's stock were exchanged, compared to its average volume of 5,424,713. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market cap of $189.59 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 2.59 and a beta of 1.04. General Electric has a twelve month low of $148.83 and a twelve month high of $214.21. The firm has a fifty day moving average of $196.12 and a two-hundred day moving average of $186.52.

General Electric (NYSE:GE - Get Free Report) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, sell-side analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a positive change from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Monday, March 10th. General Electric's payout ratio is 24.04%.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Redburn Atlantic assumed coverage on General Electric in a research report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Northcoast Research raised General Electric from a "neutral" rating to a "buy" rating and set a $205.00 price target on the stock in a report on Wednesday, April 9th. Finally, Citigroup cut their price objective on shares of General Electric from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $213.33.

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.