Janus Henderson Group PLC Grows Stake in General Electric (NYSE:GE)

Janus Henderson Group PLC lifted its stake in shares of General Electric (NYSE:GE) by 38.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,769 shares of the conglomerate’s stock after purchasing an additional 41,795 shares during the period. Janus Henderson Group PLC’s holdings in General Electric were worth $26,280,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GE. Prime Capital Investment Advisors LLC grew its stake in General Electric by 29.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after acquiring an additional 6,419 shares in the last quarter. USA Financial Formulas grew its stake in General Electric by 24,042.9% during the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock valued at $1,294,000 after acquiring an additional 10,098 shares in the last quarter. Grandfield & Dodd LLC grew its stake in General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after acquiring an additional 22,998 shares in the last quarter. Rathbones Group PLC grew its stake in General Electric by 2.7% during the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after acquiring an additional 5,997 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in General Electric by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock valued at $534,123,000 after acquiring an additional 318,245 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup upped their price objective on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday. Vertical Research initiated coverage on shares of General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective on the stock. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and upped their price objective for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Finally, Jefferies Financial Group upped their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Two 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 has a consensus rating of “Moderate Buy” and a consensus price target of $185.71.

General Electric Stock Up 1.2 %

General Electric stock traded up $2.01 during mid-day trading on Wednesday, reaching $169.49. 1,877,360 shares of the company’s stock were exchanged, compared to its average volume of 7,101,221. General Electric has a twelve month low of $84.42 and a twelve month high of $177.20. The company has a fifty day moving average of $162.70 and a 200-day moving average of $157.23. 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 cap of $183.78 billion, a P/E ratio of 55.52, a P/E/G ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. Sell-side analysts expect that General Electric will post 4.15 EPS for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is currently 36.72%.

General Electric Company 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.