1,618 Shares in General Electric (NYSE:GE) Bought by CRA Financial Services LLC

CRA Financial Services LLC acquired a new position in shares of General Electric (NYSE:GE) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,618 shares of the conglomerate’s stock, valued at approximately $284,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in General Electric by 0.6% in 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. Norges Bank acquired a new stake in General Electric in the fourth quarter worth $1,193,159,000. Morgan Stanley increased its position in General Electric by 5.1% in the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after buying an additional 434,736 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position 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 worth $849,385,000 after buying an additional 426,794 shares during the period. Finally, Brown Advisory Inc. increased its position in General Electric by 62.3% in the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock worth $623,058,000 after buying an additional 1,873,327 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other General Electric 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 transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America increased their target price on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Argus raised their price target on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Vertical Research started coverage on General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 price target on the stock. Barclays lowered their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Finally, TD Cowen raised General Electric from a “hold” rating to a “buy” rating and raised their price target for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.36.

General Electric Trading Down 1.0 %

Shares of NYSE:GE traded down $1.53 during midday trading on Friday, reaching $158.97. The company had a trading volume of 8,641,197 shares, compared to its average volume of 6,007,353. 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 1-year low of $84.42 and a 1-year high of $170.80. The firm has a market cap of $174.01 billion, a price-to-earnings ratio of 52.12, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23. The company has a fifty day simple moving average of $162.36 and a two-hundred day simple moving average of $151.37.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the company posted $0.27 EPS. General Electric’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts predict that General Electric will post 3.99 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. General Electric’s dividend payout ratio (DPR) is 36.72%.

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.