Syon Capital LLC Acquires 433 Shares of General Electric (NYSE:GE)

Syon Capital LLC grew its holdings in General Electric (NYSE:GE) by 7.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,477 shares of the conglomerate’s stock after buying an additional 433 shares during the period. Syon Capital LLC’s holdings in General Electric were worth $827,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GE. DAVENPORT & Co LLC boosted its holdings in shares of General Electric by 6.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 26,440 shares of the conglomerate’s stock worth $2,923,000 after purchasing an additional 1,706 shares during the period. Avior Wealth Management LLC increased its position in General Electric by 25.8% during the third quarter. Avior Wealth Management LLC now owns 3,872 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 794 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in shares of General Electric by 23.9% in the third quarter. GHP Investment Advisors Inc. now owns 1,344 shares of the conglomerate’s stock valued at $147,000 after acquiring an additional 259 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of General Electric by 9.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 3,493 shares of the conglomerate’s stock worth $386,000 after acquiring an additional 293 shares during the last quarter. Finally, Strategic Blueprint LLC boosted its stake in shares of General Electric by 10.5% during the 3rd quarter. Strategic Blueprint LLC now owns 2,465 shares of the conglomerate’s stock worth $273,000 after purchasing an additional 234 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Michael J. Holston sold 22,055 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric 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 completion of the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the sale, 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. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and upped their price target for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Jefferies Financial Group lowered their price objective on shares of General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Finally, StockNews.com assumed coverage on shares of General Electric in a report on Sunday, April 21st. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and an average target price of $170.00.

General Electric Stock Performance

NYSE GE traded up $1.09 on Friday, hitting $162.35. 5,826,600 shares of the company’s stock traded hands, compared to its average volume of 8,111,885. The firm’s 50-day moving average price is $160.45 and its two-hundred day moving average price is $135.73. The firm has a market capitalization of $177.71 billion, a PE ratio of 52.70, a P/E/G ratio of 2.99 and a beta of 1.29. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. General Electric has a 1-year low of $77.28 and a 1-year high of $163.65.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The company 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%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 earnings per share. As a group, analysts expect that General Electric will post 3.95 EPS for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a dividend of $0.28 per share. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.