&Partners Acquires New Position in General Electric (NYSE:GE)

&Partners acquired a new stake in General Electric (NYSE:GE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,013 shares of the conglomerate’s stock, valued at approximately $529,000.

Several other hedge funds also recently bought and sold shares of GE. Prime Capital Investment Advisors LLC boosted its stake 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 during the period. Fifth Third Bancorp raised its holdings in General Electric by 12.5% in the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock valued at $33,335,000 after acquiring an additional 28,985 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in General Electric by 10.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after acquiring an additional 10,722 shares in the last quarter. USA Financial Formulas raised its holdings in General Electric by 24,042.9% in the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock valued at $1,294,000 after acquiring an additional 10,098 shares in the last quarter. Finally, Grandfield & Dodd LLC raised its holdings in General Electric by 9.3% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

GE has been the topic of a number of research analyst reports. Jefferies Financial Group raised their price objective on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, April 29th. StockNews.com initiated coverage on shares of General Electric in a report on Monday, April 29th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Wells Fargo & Company lifted their target price on shares of General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Citigroup lifted their target price on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $177.27.

General Electric Trading Down 0.5 %

Shares of GE stock opened at $164.24 on Monday. The firm has a 50-day moving average price of $161.69 and a 200 day moving average price of $150.20. General Electric has a twelve month low of $82.11 and a twelve month high of $170.80. The company has a market capitalization of $179.78 billion, a price-to-earnings ratio of 53.85, a PEG ratio of 1.75 and a beta of 1.23. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating 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 prior year, the company posted $0.27 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts forecast that General Electric will post 3.99 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio is presently 36.72%.

General Electric Company 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.