Allworth Financial LP boosted its position in General Electric (NYSE:GE – Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,892 shares of the conglomerate’s stock after buying an additional 395 shares during the period. Allworth Financial LP’s holdings in General Electric were worth $1,041,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in General Electric by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 86,108,801 shares of the conglomerate’s stock valued at $5,330,997,000 after buying an additional 625,757 shares during the last quarter. Geode Capital Management LLC grew its position in General Electric by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 18,952,831 shares of the conglomerate’s stock valued at $1,584,662,000 after buying an additional 345,740 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in General Electric by 122,242.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock valued at $878,644,000 after buying an additional 13,427,079 shares during the last quarter. Morgan Stanley grew its position in General Electric by 13.8% in the 4th quarter. Morgan Stanley now owns 8,765,177 shares of the conglomerate’s stock valued at $734,434,000 after buying an additional 1,065,856 shares during the last quarter. Finally, Norges Bank purchased a new position in General Electric in the 4th quarter valued at $635,274,000. 74.75% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have commented on GE. Barclays raised their target price on General Electric from $115.00 to $125.00 in a report on Wednesday, June 7th. StockNews.com began coverage on General Electric in a report on Thursday, May 18th. They issued a “buy” rating for the company. JPMorgan Chase & Co. raised their target price on General Electric from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, April 26th. Bank of America raised their target price on General Electric from $92.00 to $96.00 and gave the company a “buy” rating in a report on Monday, March 6th. Finally, Citigroup raised their target price on General Electric from $109.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus price target of $105.19.
General Electric Stock Up 2.0 %
General Electric (NYSE:GE – Free Report) last posted its quarterly earnings results on Tuesday, April 25th. The conglomerate reported $0.27 EPS for the quarter, beating the consensus estimate of $0.13 by $0.14. The company had revenue of $14.49 billion during the quarter, compared to analysts’ expectations of $13.46 billion. General Electric had a return on equity of 9.45% and a net margin of 11.85%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. On average, research analysts expect that General Electric will post 2.03 earnings per share for the current year.
General Electric Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Tuesday, July 11th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Monday, July 10th. General Electric’s dividend payout ratio (DPR) is 4.17%.
Insider Transactions at General Electric
In other news, VP Thomas S. Timko sold 7,254 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $100.82, for a total transaction of $731,348.28. Following the completion of the sale, the vice president now owns 20,953 shares in the company, valued at approximately $2,112,481.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Scott Strazik sold 173,873 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $99.56, for a total transaction of $17,310,795.88. Following the completion of the sale, the senior vice president now owns 56,049 shares in the company, valued at approximately $5,580,238.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas S. Timko sold 7,254 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $100.82, for a total value of $731,348.28. Following the sale, the vice president now owns 20,953 shares of the company’s stock, valued at approximately $2,112,481.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 239,419 shares of company stock worth $24,144,151. 0.67% of the stock is currently owned by company insiders.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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