Chapin Davis Inc. Sells 679 Shares of General Electric (NYSE:GE)

Chapin Davis Inc. cut its holdings in General Electric (NYSE:GE) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,844 shares of the conglomerate’s stock after selling 679 shares during the quarter. General Electric comprises approximately 1.4% of Chapin Davis Inc.’s holdings, making the stock its 15th largest position. Chapin Davis Inc.’s holdings in General Electric were worth $3,834,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Halpern Financial Inc. grew its holdings in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 184 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in General Electric in the 4th quarter worth $27,000. CGC Financial Services LLC raised its holdings in General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares during the period. Capital Analysts LLC lifted its position in General Electric by 55.8% during 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 last quarter. Finally, Bfsg LLC bought a new stake in General Electric during the fourth quarter valued at about $32,000. 74.77% of the stock is owned by institutional investors.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Up 0.3 %

NYSE:GE opened at $159.38 on Monday. The stock’s fifty day simple moving average is $162.36 and its 200-day simple moving average is $151.59. The firm has a market capitalization of $174.46 billion, a P/E ratio of 52.14, a P/E/G ratio of 1.69 and a beta of 1.22. 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 12-month low of $84.42 and a 12-month high of $170.80.

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. Equities research analysts expect that General Electric will post 4 earnings per share for the current year.

General Electric Announces Dividend

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 paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s payout ratio is currently 36.72%.

Wall Street Analysts Forecast Growth

GE has been the topic of several research reports. StockNews.com began coverage on shares of General Electric in a report on Monday, April 29th. They set a “hold” rating on the stock. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Vertical Research initiated coverage on shares of General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 price target on the stock. Finally, Argus increased their price objective on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.93.

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.