New England Research & Management Inc. Sells 106 Shares of General Electric (NYSE:GE)

New England Research & Management Inc. lowered its holdings in shares of General Electric (NYSE:GE) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,847 shares of the conglomerate’s stock after selling 106 shares during the quarter. New England Research & Management Inc.’s holdings in General Electric were worth $500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in General Electric in the fourth quarter worth about $1,193,159,000. WCM Investment Management LLC bought a new stake in General Electric in the fourth quarter worth $520,488,000. Lone Pine Capital LLC bought a new position in General Electric during the fourth quarter valued at $268,519,000. Brown Advisory Inc. raised its stake in shares of General Electric by 62.3% in the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock valued at $623,058,000 after acquiring an additional 1,873,327 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of General Electric by 11,947.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock worth $201,218,000 after acquiring an additional 1,563,484 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of the firm’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 completion of 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 filing with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GE shares. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and boosted their target price for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Argus upped their price objective on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group lifted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada raised their price target on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.36.

General Electric Stock Performance

Shares of General Electric stock opened at $159.01 on Friday. The firm has a market capitalization of $174.05 billion, a P/E ratio of 52.13, a PEG ratio of 1.71 and a beta of 1.23. General Electric has a 52 week low of $84.42 and a 52 week high of $170.80. 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 company has a 50 day moving average price of $162.36 and a 200 day moving average price of $151.17.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $0.27 earnings per share. Sell-side analysts expect that General Electric will post 3.99 EPS for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio is presently 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.