Xn LP Lowers Holdings in General Electric (NYSE:GE)

Xn LP lessened its stake in shares of General Electric (NYSE:GE) by 71.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 895,961 shares of the conglomerate’s stock after selling 2,203,238 shares during the quarter. General Electric comprises about 5.9% of Xn LP’s investment portfolio, making the stock its 5th biggest holding. Xn LP’s holdings in General Electric were worth $142,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after acquiring an additional 550,996 shares during the last quarter. Capital International Investors grew its stake in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Capital World Investors increased its position in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of General Electric by 221.6% in the 1st 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 period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of General Electric by 6.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock worth $849,385,000 after buying an additional 426,794 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

Shares of NYSE:GE opened at $180.32 on Wednesday. The firm has a market cap of $197.38 billion, a price-to-earnings ratio of 59.12, a P/E/G ratio of 1.65 and a beta of 1.18. The firm has a fifty day moving average price of $167.28 and a 200 day moving average price of $170.87. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $182.43. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (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 for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Sanford C. Bernstein began coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Jefferies Financial Group lifted their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada upped their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, UBS Group raised their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $191.14.

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.