Connor Clark & Lunn Investment Management Ltd. Has $8.35 Million Holdings in General Electric (NYSE:GE)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in General Electric (NYSE:GE – Get Rating) by 29.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,655 shares of the conglomerate’s stock after selling 42,310 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in General Electric were worth $8,350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. Clean Energy Transition LLP boosted its holdings in shares of General Electric by 1,592.4% in the fourth quarter. Clean Energy Transition LLP now owns 1,307,467 shares of the conglomerate’s stock valued at $109,553,000 after buying an additional 1,230,210 shares during the period. International Assets Investment Management LLC boosted its holdings in General Electric by 7,640.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,183,582 shares of the conglomerate’s stock worth $3,666,000 after purchasing an additional 1,168,291 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in General Electric by 29.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,777,263 shares of the conglomerate’s stock worth $316,496,000 after purchasing an additional 853,292 shares during the last quarter. Vanguard Group Inc. boosted its holdings in General Electric by 0.7% during the third quarter. Vanguard Group Inc. now owns 86,108,801 shares of the conglomerate’s stock worth $5,330,997,000 after purchasing an additional 625,757 shares during the last quarter. Finally, Korea Investment CORP boosted its holdings in General Electric by 89.9% during the third quarter. Korea Investment CORP now owns 919,799 shares of the conglomerate’s stock worth $56,945,000 after purchasing an additional 435,532 shares during the last quarter. Institutional investors and hedge funds own 70.12% of the company’s stock.

Insider Buying and Selling

In other General Electric news, SVP Michael J. Holston sold 58,292 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $104.68, for a total value of $6,102,006.56. Following the transaction, the senior vice president now directly owns 70,537 shares of the company’s stock, valued at approximately $7,383,813.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other General Electric news, SVP Michael J. Holston sold 58,292 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $104.68, for a total value of $6,102,006.56. Following the transaction, the senior vice president now directly owns 70,537 shares of the company’s stock, valued at approximately $7,383,813.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas S. Timko sold 7,254 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $100.82, for a total transaction of $731,348.28. Following the completion of the transaction, the vice president now directly owns 20,953 shares in the company, valued at $2,112,481.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 239,419 shares of company stock valued at $24,144,151. 0.67% of the stock is owned by company insiders.

General Electric Price Performance

NYSE:GE opened at $101.52 on Friday. General Electric has a 52 week low of $46.55 and a 52 week high of $105.94. The firm has a market cap of $110.55 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 7.11 and a beta of 1.27. The firm’s 50-day simple moving average is $97.47 and its 200 day simple moving average is $88.07. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.92 and a current ratio of 1.25.

General Electric (NYSE:GE – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The conglomerate reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.14. General Electric had a net margin of 11.85% and a return on equity of 9.45%. The business had revenue of $14.49 billion for the quarter, compared to analyst estimates of $13.46 billion. During the same period last year, the firm earned $0.24 earnings per share. General Electric’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts predict that General Electric will post 2.03 earnings per share for the current year.

Wall Street Analyst Weigh In

GE has been the subject of several recent research reports. Oppenheimer increased their target price on shares of General Electric from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, March 14th. The Goldman Sachs Group increased their target price on shares of General Electric from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, April 14th. JPMorgan Chase & Co. increased their price target on shares of General Electric from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Wednesday, April 26th. Morgan Stanley increased their price target on shares of General Electric from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, March 31st. Finally, Citigroup increased their price target on shares of General Electric from $109.00 to $114.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $103.20.

General Electric Company Profile

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.