Global Trust Asset Management LLC Acquires 149 Shares of General Electric (NYSE:GE)

Global Trust Asset Management LLC boosted its holdings in General Electric (NYSE:GE) by 30.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 636 shares of the conglomerate’s stock after acquiring an additional 149 shares during the quarter. Global Trust Asset Management LLC’s holdings in General Electric were worth $112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares in the last quarter. Norges Bank acquired a new position in General Electric in the fourth quarter valued at about $1,193,159,000. Morgan Stanley boosted its position in General Electric by 5.1% in the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after buying an additional 434,736 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in General Electric by 6.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock valued at $849,385,000 after buying an additional 426,794 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in General Electric by 62.3% in the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock valued at $623,058,000 after buying an additional 1,873,327 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 2.2 %

Shares of NYSE GE opened at $160.55 on Tuesday. General Electric has a fifty-two week low of $82.69 and a fifty-two week high of $170.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The firm has a market capitalization of $175.74 billion, a P/E ratio of 52.64, a P/E/G ratio of 1.75 and a beta of 1.23. The company’s 50 day simple moving average is $161.83 and its 200 day simple moving average is $150.49.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm 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 firm earned $0.27 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts predict that General Electric will post 3.99 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, July 11th. General Electric’s payout ratio is presently 36.72%.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on GE. Citigroup boosted their price target on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and upped their target price for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Royal Bank of Canada upped their target price on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. UBS Group upped their target price on shares of General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $177.27.

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.