General Electric (NYSE:GE) Position Reduced by PFS Partners LLC

PFS Partners LLC cut its position in shares of General Electric (NYSE:GE) by 4.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,606 shares of the conglomerate’s stock after selling 122 shares during the quarter. PFS Partners LLC’s holdings in General Electric were worth $457,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Halpern Financial Inc. grew its holdings in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 184 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in General Electric during the fourth quarter valued at approximately $27,000. CGC Financial Services LLC boosted its position in shares of General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 110 shares during the period. Capital Analysts LLC boosted its position in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 87 shares during the period. Finally, Bfsg LLC bought a new stake in shares of General Electric in the fourth quarter valued at approximately $32,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.66% of the company’s stock.

General Electric Trading Down 0.1 %

GE stock traded down $0.23 during midday trading on Thursday, reaching $160.41. The stock had a trading volume of 1,999,861 shares, compared to its average volume of 7,326,733. The business has a fifty day simple moving average of $161.99 and a two-hundred day simple moving average of $150.84. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm has a market cap of $175.59 billion, a price-to-earnings ratio of 52.37, a PEG ratio of 1.70 and a beta of 1.23. General Electric has a twelve month low of $83.98 and a twelve month high of $170.80.

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

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. UBS Group raised their target price on General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price objective on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Citigroup lifted their price objective on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, TD Cowen raised General Electric from a “hold” rating to a “buy” rating and lifted their price objective for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.27.

General Electric Company 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.