Hanlon Investment Management Inc. Makes New $214,000 Investment in General Electric (NYSE:GE)

Hanlon Investment Management Inc. acquired a new stake in General Electric (NYSE:GE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,349 shares of the conglomerate’s stock, valued at approximately $214,000.

A number of other hedge funds have also made changes to their positions in the stock. 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 period. Norges Bank bought a new position in General Electric during the fourth quarter valued at about $1,193,159,000. Capital International Investors grew its holdings in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board raised its position in General Electric by 221.6% in 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 acquiring an additional 4,907,530 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. acquired a new stake in General Electric in the 1st quarter valued at about $385,745,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Down 1.6 %

Shares of NYSE GE traded down $2.62 during mid-day trading on Friday, reaching $161.23. The company had a trading volume of 3,954,854 shares, compared to its average volume of 6,700,422. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company has a market capitalization of $176.48 billion, a price-to-earnings ratio of 52.88, a PEG ratio of 1.73 and a beta of 1.18. The stock has a fifty day moving average of $165.78 and a two-hundred day moving average of $163.18. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s 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. As a group, equities research analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GE. Barclays lifted their price objective 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. UBS Group upped their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Jefferies Financial Group raised their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada boosted their target price 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, StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $190.38.

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.