Canada Post Corp Registered Pension Plan Makes New $15.85 Million Investment in General Electric (NYSE:GE)

Canada Post Corp Registered Pension Plan purchased a new position in shares of General Electric (NYSE:GE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 95,051 shares of the conglomerate's stock, valued at approximately $15,854,000. General Electric accounts for about 0.9% of Canada Post Corp Registered Pension Plan's portfolio, making the stock its 18th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of GE. Johnson & White Wealth Management LLC acquired a new position in shares of General Electric during the fourth quarter valued at about $733,000. Chung Wu Investment Group LLC purchased a new stake in shares of General Electric during the 4th quarter valued at $795,000. National Bank of Canada FI boosted its stake in General Electric by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the conglomerate's stock valued at $177,535,000 after acquiring an additional 29,844 shares during the last quarter. World Investment Advisors LLC increased its position in General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate's stock worth $2,576,000 after buying an additional 5,162 shares during the last quarter. Finally, National Pension Service raised its stake in General Electric by 1.7% in the 4th quarter. National Pension Service now owns 2,254,637 shares of the conglomerate's stock valued at $376,051,000 after acquiring an additional 37,884 shares during the period. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

GE has been the subject of several research analyst reports. Redburn Atlantic started coverage on General Electric in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Northcoast Research upgraded shares of 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. Citigroup lowered their price target on shares of General Electric from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, UBS Group upped their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $213.33.

General Electric Stock Performance

GE stock traded down $0.57 during midday trading on Friday, reaching $181.88. The stock had a trading volume of 4,927,432 shares, compared to its average volume of 5,456,285. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a fifty day simple moving average of $196.66 and a two-hundred day simple moving average of $186.53. The stock has a market cap of $195.21 billion, a PE ratio of 30.36, a P/E/G ratio of 2.59 and a beta of 1.04. General Electric has a 52-week low of $146.78 and a 52-week high of $214.21.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings data 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 net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.79%. This is a boost from General Electric's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric's payout ratio is presently 24.04%.

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.