Nilsine Partners LLC Invests $208,000 in General Electric (NYSE:GE)

Nilsine Partners LLC purchased a new position in shares of General Electric (NYSE:GE) in the 1st quarter, Holdings Channel reports. The firm purchased 1,185 shares of the conglomerate’s stock, valued at approximately $208,000.

Several other institutional investors also recently modified their holdings of GE. PFG Investments LLC increased its holdings in General Electric by 440.9% in the first quarter. PFG Investments LLC now owns 23,680 shares of the conglomerate’s stock valued at $4,157,000 after purchasing an additional 19,302 shares during the period. Parsons Capital Management Inc. RI increased its holdings in General Electric by 4.1% in the first quarter. Parsons Capital Management Inc. RI now owns 6,462 shares of the conglomerate’s stock valued at $1,134,000 after purchasing an additional 256 shares during the period. Donaldson Capital Management LLC increased its holdings in General Electric by 8.4% in the first quarter. Donaldson Capital Management LLC now owns 1,943 shares of the conglomerate’s stock valued at $341,000 after purchasing an additional 151 shares during the period. Raymond James & Associates increased its holdings in General Electric by 3.3% in the first quarter. Raymond James & Associates now owns 591,519 shares of the conglomerate’s stock valued at $103,829,000 after purchasing an additional 18,693 shares during the period. Finally, MBL Wealth LLC acquired a new stake in General Electric in the first quarter valued at $206,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Down 1.7 %

Shares of GE stock traded down $2.74 on Tuesday, reaching $161.75. 6,722,311 shares of the company were exchanged, compared to its average volume of 8,063,052. The company has a market cap of $177.05 billion, a price-to-earnings ratio of 53.03, a PEG ratio of 2.90 and a beta of 1.29. The company has a 50-day moving average of $161.29 and a 200-day moving average of $137.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. General Electric has a one year low of $77.93 and a one year high of $166.26.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. Analysts anticipate that General Electric will post 3.93 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GE shares. Vertical Research started coverage on General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective for the company. Argus increased their price objective on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and upped their price target for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. StockNews.com began coverage on shares of General Electric in a research report on Monday. They set a “hold” rating on the stock. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Buying and Selling

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

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.