Crescent Sterling Ltd. bought a new position in General Electric (NYSE:GE – Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,131 shares of the conglomerate’s stock, valued at approximately $204,000.
Other institutional investors also recently modified their holdings of the company. Addenda Capital Inc. bought a new position in shares of General Electric during the fourth quarter valued at approximately $26,000. MADDEN SECURITIES Corp bought a new position in General Electric during the 4th quarter valued at approximately $28,000. Prostatis Group LLC purchased a new position in General Electric during the fourth quarter valued at $29,000. TFO TDC LLC bought a new stake in General Electric in the fourth quarter worth $31,000. Finally, Silicon Valley Capital Partners purchased a new stake in shares of General Electric in the fourth quarter worth $31,000. 74.75% of the stock is currently owned by institutional investors.
General Electric Stock Performance
Shares of GE traded down $1.57 on Tuesday, reaching $108.28. The company’s stock had a trading volume of 2,972,029 shares, compared to its average volume of 5,082,347. General Electric has a 12-month low of $46.55 and a 12-month high of $110.26. The stock has a market capitalization of $117.91 billion, a P/E ratio of 14.12, a PEG ratio of 7.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.92. The stock’s 50 day simple moving average is $103.25 and its two-hundred day simple moving average is $91.98.
General Electric (NYSE:GE – Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The conglomerate reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.14. The business had revenue of $14.49 billion for the quarter, compared to analysts’ expectations of $13.46 billion. General Electric had a net margin of 11.85% and a return on equity of 9.45%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. Research analysts forecast that General Electric will post 2.02 earnings per share for the current fiscal year.
General Electric Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Tuesday, July 11th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Monday, July 10th. General Electric’s payout ratio is 4.17%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on GE shares. UBS Group upped their price target on shares of General Electric from $95.00 to $109.00 in a research note on Thursday, April 13th. Wolfe Research raised their price target on shares of General Electric from $107.00 to $125.00 in a research report on Wednesday, June 28th. Morgan Stanley upped their price objective on General Electric from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, March 31st. Bank of America lifted their target price on General Electric from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, March 6th. Finally, JPMorgan Chase & Co. upped their price target on General Electric from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, April 26th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.19.
Insider Transactions at General Electric
In other news, VP Thomas S. Timko sold 7,254 shares of General Electric stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $100.82, for a total transaction of $731,348.28. Following the transaction, the vice president now directly owns 20,953 shares of the company’s stock, valued at approximately $2,112,481.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other General Electric news, VP Thomas S. Timko sold 7,254 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $100.82, for a total transaction of $731,348.28. Following the sale, the vice president now owns 20,953 shares in the company, valued at approximately $2,112,481.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Scott Strazik sold 173,873 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $99.56, for a total transaction of $17,310,795.88. Following the completion of the transaction, the senior vice president now owns 56,049 shares of the company’s stock, valued at $5,580,238.44. The disclosure for this sale can be found here. Insiders have sold 239,419 shares of company stock valued at $24,144,151 over the last quarter. 0.67% of the stock is currently owned by company insiders.
About General Electric
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.