Wedmont Private Capital Has $2.46 Million Stake in General Electric (NYSE:GE)

Wedmont Private Capital boosted its stake in shares of General Electric (NYSE:GE) by 2.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,004 shares of the conglomerate’s stock after purchasing an additional 293 shares during the period. Wedmont Private Capital’s holdings in General Electric were worth $2,458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in General Electric in the 4th quarter valued at approximately $1,193,159,000. WCM Investment Management LLC acquired a new stake in shares of General Electric in the fourth quarter worth $520,488,000. Lone Pine Capital LLC bought a new position in General Electric during the fourth quarter worth $268,519,000. Brown Advisory Inc. increased its position in General Electric by 62.3% during the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock worth $623,058,000 after acquiring an additional 1,873,327 shares during the period. Finally, International Assets Investment Management LLC raised its stake in General Electric by 11,947.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock valued at $201,218,000 after purchasing an additional 1,563,484 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Down 1.2 %

Shares of General Electric stock traded down $1.91 on Friday, hitting $163.09. 2,185,565 shares of the company’s stock traded hands, compared to its average volume of 7,292,588. The firm’s 50-day moving average price is $161.50 and its two-hundred day moving average price is $149.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The stock has a market capitalization of $178.52 billion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. General Electric has a one year low of $82.11 and a one year high of $170.80.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 EPS. On average, research analysts expect that General Electric will post 3.99 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GE shares. The Goldman Sachs Group boosted their price target on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Argus upped their target price on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Vertical Research initiated coverage on shares of General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 price target for the company. Bank of America lifted their price objective on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, TD Cowen raised General Electric from a “hold” rating to a “buy” rating and increased their target price for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

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.