Buckley Wealth Management LLC Decreases Position in General Electric (NYSE:GE)

Buckley Wealth Management LLC decreased its stake in General Electric (NYSE:GE) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,545 shares of the conglomerate’s stock after selling 190 shares during the period. Buckley Wealth Management LLC’s holdings in General Electric were worth $1,500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GE. Halpern Financial Inc. boosted its position in shares of General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after buying an additional 184 shares during the period. Criterion Capital Advisors LLC acquired a new position in shares of General Electric in the fourth quarter worth about $27,000. CGC Financial Services LLC lifted its stake in shares of General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares in the last quarter. Capital Analysts LLC lifted its stake in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares in the last quarter. Finally, Bfsg LLC acquired a new position in shares of General Electric in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GE shares. UBS Group boosted their price target on General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Barclays cut their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. The Goldman Sachs Group boosted their price target on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group upped their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Two investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $177.60.

Insider Activity

In other news, SVP Russell Stokes sold 45,309 shares of the firm’s 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 sale, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

General Electric Price Performance

NYSE GE traded down $1.69 on Friday, reaching $158.81. 1,895,863 shares of the stock traded hands, compared to its average volume of 7,293,740. The company has a market cap of $173.84 billion, a price-to-earnings ratio of 52.24, a P/E/G ratio of 1.71 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm’s fifty day simple moving average is $161.99 and its 200 day simple moving average is $150.84. General Electric has a 12 month low of $84.42 and a 12 month high of $170.80.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. The firm 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 business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. As a group, research analysts predict that General Electric will post 3.99 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, July 11th. General Electric’s payout ratio is 36.72%.

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.