Breakwater Capital Group Has $1.05 Million Position in General Electric (NYSE:GE)

Breakwater Capital Group lowered its position in General Electric (NYSE:GE) by 9.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,991 shares of the conglomerate’s stock after selling 622 shares during the quarter. Breakwater Capital Group’s holdings in General Electric were worth $1,052,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after acquiring an additional 550,996 shares during the last quarter. Norges Bank acquired a new stake in shares of General Electric during the 4th quarter worth about $1,193,159,000. Morgan Stanley lifted its stake in shares of General Electric by 5.1% during the 3rd 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 last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of General Electric by 6.9% during the 4th 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 last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of General Electric by 62.3% during the 4th 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 last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research reports. StockNews.com started coverage on shares of General Electric in a research note on Monday, April 29th. They set a “hold” rating for the company. The Goldman Sachs Group lifted their price objective on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Barclays dropped their price objective on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Jefferies Financial Group boosted their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company boosted their target price on shares of General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.36.

General Electric Stock Down 1.0 %

NYSE GE traded down $1.53 on Friday, hitting $158.97. 8,641,197 shares of the company were exchanged, compared to its average volume of 6,007,353. The company has a market cap of $174.01 billion, a PE ratio of 52.12, a PEG ratio of 1.69 and a beta of 1.23. General Electric has a 12 month low of $84.42 and a 12 month high of $170.80. The stock has a fifty day moving average of $162.36 and a 200-day moving average of $151.59. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last issued its earnings results 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. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. As a group, analysts forecast that General Electric will post 4 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid 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 (DPR) is 36.72%.

Insider Buying and Selling at General Electric

In other General Electric 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 value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

About General Electric

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.