General Electric (NYSE:GE) Holdings Increased by Makena Capital Management LLC

Makena Capital Management LLC increased its stake in General Electric (NYSE:GE) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,998 shares of the conglomerate’s stock after acquiring an additional 8,349 shares during the period. General Electric makes up approximately 4.3% of Makena Capital Management LLC’s investment portfolio, making the stock its 3rd biggest position. Makena Capital Management LLC’s holdings in General Electric were worth $18,440,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares during the last quarter. Capital International Investors lifted its stake in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC bought a new stake in General Electric in the second quarter worth about $2,613,332,000. Capital World Investors boosted its position 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 valued at $2,237,930,000 after buying an additional 12,312,648 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake 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 valued at $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

Shares of NYSE:GE opened at $184.59 on Friday. The firm has a 50 day moving average of $170.98 and a 200 day moving average of $170.51. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $200.15 billion, a price-to-earnings ratio of 60.52, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. General Electric has a 52 week low of $84.42 and a 52 week high of $190.88.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein assumed coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Royal Bank of Canada raised their price target on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average price target of $191.36.

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.