Sumitomo Mitsui Trust Group Inc. Buys 51,790 Shares of General Electric (NYSE:GE)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of General Electric (NYSE:GE - Free Report) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,656,801 shares of the conglomerate's stock after buying an additional 51,790 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of General Electric worth $501,020,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Capital International Investors boosted its holdings in shares of General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate's stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the period. Newport Trust Company LLC bought a new stake in General Electric during the second quarter worth approximately $2,613,332,000. Capital World Investors lifted its holdings in shares of General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate's stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Legal & General Group Plc raised its stake in General Electric by 5.8% during the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate's stock worth $1,336,257,000 after acquiring an additional 459,201 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate's stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

General Electric Price Performance

General Electric stock traded down $2.52 during midday trading on Tuesday, reaching $182.04. The company's stock had a trading volume of 1,483,637 shares, compared to its average volume of 6,256,152. The firm has a market capitalization of $197.02 billion, a PE ratio of 31.88, a P/E/G ratio of 1.82 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a fifty-two week low of $91.77 and a fifty-two week high of $194.80. The stock's 50 day simple moving average is $180.98 and its 200 day simple moving average is $170.19.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The business 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%. The company's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. On average, equities research analysts forecast that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric's dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares of the company's stock, valued at approximately $2,407,036.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company's stock.

Analysts Set New Price Targets

GE has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on General Electric from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. StockNews.com downgraded General Electric from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $212.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, General Electric currently has a consensus rating of "Moderate Buy" and an average price target of $200.93.

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.