General Electric (NYSE:GE) Shares Purchased by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC grew its holdings in shares of General Electric (NYSE:GE) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,571 shares of the conglomerate’s stock after buying an additional 137 shares during the quarter. Chesley Taft & Associates LLC’s holdings in General Electric were worth $1,998,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. New England Research & Management Inc. lifted its position in General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after buying an additional 63 shares in the last quarter. Choate Investment Advisors raised its holdings in shares of General Electric by 0.4% during the first quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock worth $2,808,000 after acquiring an additional 65 shares in the last quarter. Walker Asset Management LLC boosted its position in General Electric by 1.7% during the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock valued at $722,000 after purchasing an additional 70 shares during the last quarter. Trust Co of the South grew its stake in General Electric by 1.2% in the second quarter. Trust Co of the South now owns 5,909 shares of the conglomerate’s stock valued at $939,000 after purchasing an additional 70 shares in the last quarter. Finally, Lantz Financial LLC increased its position in General Electric by 1.9% in the 2nd quarter. Lantz Financial LLC now owns 3,718 shares of the conglomerate’s stock worth $591,000 after purchasing an additional 70 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Wells Fargo & Company boosted their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Bank of America raised their price target on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada raised their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $190.38.

General Electric Stock Up 0.4 %

GE opened at $170.05 on Monday. The business has a 50 day moving average of $163.24 and a 200-day moving average of $160.51. The stock has a market capitalization of $186.14 billion, a price-to-earnings ratio of 55.55, a P/E/G ratio of 1.70 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. General Electric’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Electric will post 4.15 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of the business’s 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 transaction, 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 is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

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.