Xponance Inc. Purchases 8,133 Shares of General Electric (NYSE:GE)

Xponance Inc. grew its position in shares of General Electric (NYSE:GE) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,991 shares of the conglomerate’s stock after buying an additional 8,133 shares during the quarter. Xponance Inc.’s holdings in General Electric were worth $19,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its stake in shares of General Electric by 17.3% in the 1st quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock worth $4,639,533,000 after purchasing an additional 7,157,356 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake 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 worth $878,644,000 after buying an additional 13,427,079 shares in the last quarter. Northern Trust Corp increased its stake in General Electric by 4.0% in the 3rd quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after buying an additional 410,061 shares in the last quarter. Morgan Stanley increased its stake in General Electric by 5.1% in 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 in the last quarter. Finally, Norges Bank purchased a new stake in General Electric in the 4th quarter worth $635,274,000. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

GE traded down $2.73 on Thursday, reaching $152.94. The stock had a trading volume of 5,976,127 shares, compared to its average volume of 7,980,784. The company has a market cap of $167.20 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 3.07 and a beta of 1.29. The business’s 50-day moving average price is $158.87 and its two-hundred day moving average price is $133.96. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. General Electric has a 12-month low of $76.87 and a 12-month high of $158.68.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.13. The company had revenue of $19.42 billion during the quarter, compared to analysts’ expectations of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. General Electric’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 EPS. Sell-side analysts forecast that General Electric will post 3.78 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.73%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. General Electric’s payout ratio is presently 13.38%.

Insider Transactions at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Bank of America decreased their price objective on shares of General Electric from $175.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, April 8th. The Goldman Sachs Group initiated coverage on shares of General Electric in a research note on Tuesday, April 9th. They issued a “buy” rating and a $190.00 price objective for the company. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and raised their target price for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Finally, Barclays reduced their target price on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $160.07.

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.