Saxon Interests Inc. Takes Position in General Electric (NYSE:GE)

Saxon Interests Inc. bought a new stake in General Electric (NYSE:GE) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 1,337 shares of the conglomerate’s stock, valued at approximately $235,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GE. Halpern Financial Inc. grew its holdings in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the period. Criterion Capital Advisors LLC acquired a new position in General Electric during the fourth quarter worth $27,000. CGC Financial Services LLC grew its holdings in General Electric by 90.2% during 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 during the period. Capital Analysts LLC grew its holdings in General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the period. Finally, Bfsg LLC acquired a new position in General Electric during the fourth quarter worth $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 1.6 %

NYSE GE traded up $2.50 during trading hours on Tuesday, hitting $161.47. 5,246,791 shares of the company’s stock were exchanged, compared to its average volume of 7,303,346. The business’s 50 day moving average is $162.53 and its 200-day moving average is $151.85. General Electric has a 12-month low of $84.42 and a 12-month high of $170.80. The firm has a market capitalization of $176.75 billion, a P/E ratio of 52.65, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. 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 (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share 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 for the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that General Electric will post 4 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. Shareholders of record on Thursday, July 11th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio is presently 36.72%.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the company’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 $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on GE shares. UBS Group boosted their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group boosted 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. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and boosted their target price for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. StockNews.com started coverage on General Electric in a research report on Monday, April 29th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company boosted their target price on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average price target of $181.93.

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.