Veracity Capital LLC Purchases Shares of 1,387 General Electric (NYSE:GE)

Veracity Capital LLC purchased a new stake in General Electric (NYSE:GE) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,387 shares of the conglomerate’s stock, valued at approximately $243,000.

Other hedge funds also recently bought and sold shares of the company. Walker Asset Management LLC lifted its holdings in shares of General Electric by 1.7% in the 1st quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after purchasing an additional 70 shares during the last quarter. BKM Wealth Management LLC raised its stake in General Electric by 2.6% during the 1st quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock valued at $495,000 after acquiring an additional 72 shares in the last quarter. Great Valley Advisor Group Inc. raised its stake in General Electric by 1.7% during the 4th quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after acquiring an additional 74 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in General Electric by 1.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock valued at $814,000 after acquiring an additional 75 shares in the last quarter. Finally, Forte Capital LLC ADV raised its stake in General Electric by 2.1% during the 4th quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock valued at $519,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE opened at $162.90 on Friday. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $170.80. The business has a 50-day moving average of $162.62 and a two-hundred day moving average of $152.27. The stock has a market capitalization of $178.31 billion, a P/E ratio of 53.44, a P/E/G 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.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that General Electric will post 4.02 EPS 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 given a $0.28 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GE shares. Bank of America lifted their target price on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada lifted their target price on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. StockNews.com started coverage on General Electric in a research report on Monday, April 29th. They set a “hold” rating on the stock. Jefferies Financial Group lifted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Wells Fargo & Company lifted their price target on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $181.93.

Insiders Place Their Bets

In other 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 transaction, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

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.