Nelson Peltz's Trian Fund Management said it bought $2.5 billion in shares of General Electric Co since May, making it one of the top 10 shareholders in the industrial conglomerate.Shares of GE, which is now Trian's largest investment with a beneficial ownership of 98.5 million shares or about 1 percent stake, rose 3.7 percent to $26.41 in premarket trading on Monday."Trian believes GE has significant long-term potential and that its implied target value per share, including dividends, could be $40 to $45 by the end of 2017 based on our view that GE can deliver EPS of at least $2.20 in 2018," Trian Chief Investment Officer Ed Garden said.Over the past couple of years, Peltz has targeted DuPont and PepsiCo Inc, among others, demanding board seats and asking for separation of the companies' fast-growing businesses from stagnating ones.
PepsiCo, Inc. (PepsiCo) is a global food and beverage company. Shares of PEP remained unchanged at $94.16. In the past year, the shares have traded as low as $76.48 and as high as $100.76. On average, 5064370 shares of PEP exchange hands on a given day and today's volume is recorded at 5.
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