Harbor Advisory Corp MA Buys New Stake in General Electric (NYSE:GE)

Harbor Advisory Corp MA purchased a new stake in General Electric (NYSE:GE) in the 4th quarter, Holdings Channel.com reports. The fund purchased 1,728 shares of the conglomerate’s stock, valued at approximately $221,000.

Several other institutional investors also recently bought and sold shares of GE. Atlas Brown Inc. raised its holdings in General Electric by 1.0% in the 4th quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock worth $1,062,000 after acquiring an additional 85 shares during the period. Capital Analysts LLC raised its holdings in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the period. Capital Investment Counsel Inc raised its holdings in General Electric by 2.2% in the 4th quarter. Capital Investment Counsel Inc now owns 4,031 shares of the conglomerate’s stock worth $514,000 after acquiring an additional 88 shares during the period. Creative Financial Designs Inc. ADV grew its position in General Electric by 9.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,027 shares of the conglomerate’s stock worth $131,000 after purchasing an additional 91 shares during the last quarter. Finally, Ballast Advisors LLC grew its position in General Electric by 4.8% in the 4th quarter. Ballast Advisors LLC now owns 1,994 shares of the conglomerate’s stock worth $254,000 after purchasing an additional 91 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Barclays dropped their target price on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and boosted their target price for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. JPMorgan Chase & Co. dropped their target price on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Finally, Argus upped their price objective on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $170.36.

Insider Transactions at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value 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 legal filing with the SEC, which is accessible through this link. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction 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. Corporate insiders own 0.66% of the company’s stock.

General Electric Price Performance

NYSE:GE traded up $1.84 during mid-day trading on Monday, reaching $164.19. The stock had a trading volume of 2,822,041 shares, compared to its average volume of 8,046,886. The stock has a 50-day simple moving average of $160.72 and a two-hundred day simple moving average of $136.43. The stock has a market capitalization of $179.72 billion, a PE ratio of 54.15, a P/E/G ratio of 2.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. General Electric has a 12 month low of $77.93 and a 12 month high of $166.07.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, equities analysts anticipate that General Electric will post 3.93 earnings per share for the current year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.