General Electric (NYSE:GE) Shares Purchased by Private Advisor Group LLC

Private Advisor Group LLC increased its position in shares of General Electric (NYSE:GE) by 8.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,612 shares of the conglomerate’s stock after purchasing an additional 6,220 shares during the quarter. Private Advisor Group LLC’s holdings in General Electric were worth $10,545,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Prime Capital Investment Advisors LLC grew its position in shares of General Electric by 29.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after purchasing an additional 6,419 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of General Electric by 12.5% in the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after acquiring an additional 28,985 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of General Electric by 10.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock worth $12,087,000 after acquiring an additional 10,722 shares during the period. Grandfield & Dodd LLC boosted its position in shares of General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after acquiring an additional 22,998 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in shares of General Electric in the third quarter valued at about $1,846,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now directly 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 available through this hyperlink. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GE has been the topic of a number of analyst reports. Jefferies Financial Group lifted their target price on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Barclays lowered their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Vertical Research started coverage on General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $172.29.

General Electric Stock Up 0.8 %

General Electric stock traded up $1.32 during mid-day trading on Tuesday, reaching $169.29. 2,412,349 shares of the company’s stock were exchanged, compared to its average volume of 7,841,674. The company has a fifty day moving average of $162.20 and a 200-day moving average of $138.73. The company has a market cap of $185.31 billion, a P/E ratio of 55.53, a P/E/G ratio of 2.92 and a beta of 1.25. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a twelve month low of $78.17 and a twelve month high of $170.80.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts expect that General Electric will post 3.96 EPS for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 36.72%.

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.