CHURCHILL MANAGEMENT Corp Raises Stock Holdings in General Electric (NYSE:GE)

CHURCHILL MANAGEMENT Corp grew its holdings in shares of General Electric (NYSE:GE) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,062 shares of the conglomerate’s stock after purchasing an additional 1,809 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in General Electric were worth $17,915,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GE. Vanguard Group Inc. increased its stake in shares of General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares during the period. Northern Trust Corp boosted its holdings in General Electric by 4.0% in the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock valued at $1,170,551,000 after purchasing an additional 410,061 shares in the last quarter. Norges Bank acquired a new position in General Electric in the fourth quarter valued at approximately $1,193,159,000. Morgan Stanley boosted its holdings in General Electric by 5.1% in the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after purchasing an additional 434,736 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in General Electric by 6.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock valued at $849,385,000 after purchasing an additional 426,794 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Price Performance

NYSE:GE traded down $0.76 during trading hours on Friday, hitting $164.24. The company’s stock had a trading volume of 17,196,621 shares, compared to its average volume of 5,185,373. The business’s 50-day moving average is $161.69 and its two-hundred day moving average is $149.78. The company has a market capitalization of $179.78 billion, a PE ratio of 53.85, a PEG ratio of 1.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a 52-week low of $82.11 and a 52-week high of $170.80.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the business posted $0.27 earnings per share. General Electric’s revenue was up 11.1% compared to the same quarter last year. As a group, research analysts anticipate that General Electric will post 3.99 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared 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 0.68%. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GE. Jefferies Financial Group upped their price target on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 29th. StockNews.com began coverage on General Electric in a report on Monday, April 29th. They issued a “hold” rating for the company. Citigroup increased their price objective on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, UBS Group increased their price objective on General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $177.27.

Insider Activity

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the sale, 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 filing with the SEC, which can be accessed through this hyperlink. Company 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.