Norden Group LLC Buys New Stake in General Electric (NYSE:GE)

Norden Group LLC bought a new stake in General Electric (NYSE:GE) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 17,342 shares of the conglomerate’s stock, valued at approximately $3,044,000.

Other hedge funds have also recently modified their holdings of the company. BluePath Capital Management LLC purchased a new stake in shares of General Electric in the first quarter valued at about $227,000. Redmont Wealth Advisors LLC purchased a new stake in shares of General Electric in the first quarter valued at about $44,000. Plimoth Trust Co. LLC boosted its holdings in shares of General Electric by 0.7% in the first quarter. Plimoth Trust Co. LLC now owns 12,617 shares of the conglomerate’s stock valued at $2,215,000 after acquiring an additional 92 shares in the last quarter. Saxon Interests Inc. purchased a new stake in shares of General Electric in the first quarter valued at about $235,000. Finally, Verum Partners LLC boosted its holdings in shares of General Electric by 7.1% in the first quarter. Verum Partners LLC now owns 2,926 shares of the conglomerate’s stock valued at $514,000 after acquiring an additional 195 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

General Electric Stock Up 1.0 %

Shares of NYSE GE opened at $163.00 on Friday. General Electric has a 12-month low of $84.42 and a 12-month high of $170.80. The company has a market capitalization of $178.42 billion, a PE ratio of 53.44, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21. 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’s 50-day moving average is $162.59 and its two-hundred day moving average is $152.20.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Equities analysts anticipate that General Electric will post 4.02 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s dividend payout ratio is presently 36.72%.

Analysts Set New Price Targets

Several analysts have recently weighed in on GE shares. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and lifted their target price for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. UBS Group boosted their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company boosted their price objective on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Citigroup boosted their price objective on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Bank of America boosted their price objective on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.93.

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.