Monument Capital Management Purchases Shares of 2,528 General Electric (NYSE:GE)

Monument Capital Management acquired a new position in General Electric (NYSE:GE) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 2,528 shares of the conglomerate’s stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GE. Northern Trust Corp boosted its holdings in General Electric by 4.0% during the 3rd quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock valued at $1,170,551,000 after acquiring an additional 410,061 shares during the period. Morgan Stanley raised its position in shares of General Electric by 5.1% in the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after acquiring an additional 434,736 shares in the last quarter. WCM Investment Management LLC purchased a new position in General Electric during the fourth quarter valued at $520,488,000. Meritage Group LP lifted its position in General Electric by 3.5% during the 3rd quarter. Meritage Group LP now owns 3,294,044 shares of the conglomerate’s stock valued at $364,157,000 after acquiring an additional 110,000 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of General Electric by 1.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,074,080 shares of the conglomerate’s stock worth $339,848,000 after buying an additional 32,643 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GE shares. Bank of America reduced their price objective on shares of General Electric from $175.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Royal Bank of Canada lowered their price objective on General Electric from $180.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, April 4th. JPMorgan Chase & Co. cut their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.07.

General Electric Stock Performance

Shares of General Electric stock opened at $150.19 on Tuesday. General Electric has a one year low of $76.87 and a one year high of $158.68. The company has a market capitalization of $164.20 billion, a PE ratio of 17.94, a P/E/G ratio of 2.92 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The company has a 50-day simple moving average of $159.52 and a two-hundred day simple moving average of $135.03.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $0.27 earnings per share. Research analysts expect that General Electric will post 3.76 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be issued a dividend of $0.28 per share. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.75%. General Electric’s payout ratio is 13.38%.

Insider Buying and Selling at General Electric

In other news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

About General Electric

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.