Atlantic Union Bankshares Corp Makes New $255,000 Investment in General Electric (NYSE:GE)

Atlantic Union Bankshares Corp purchased a new stake in General Electric (NYSE:GE) in the first quarter, according to its most recent filing with the SEC. The fund purchased 1,452 shares of the conglomerate’s stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also made changes to their positions in GE. Vanguard Group Inc. increased its stake in shares of General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after purchasing an additional 550,996 shares during the period. Norges Bank bought a new stake in General Electric during the 4th quarter valued at $1,193,159,000. Morgan Stanley boosted its position in General Electric by 5.1% during the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after acquiring an additional 434,736 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of General Electric by 6.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock worth $849,385,000 after purchasing an additional 426,794 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of General Electric by 62.3% during the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock valued at $623,058,000 after purchasing an additional 1,873,327 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of NYSE GE traded down $1.49 during mid-day trading on Friday, hitting $159.01. The company had a trading volume of 8,640,715 shares, compared to its average volume of 7,348,133. General Electric has a 12 month low of $84.42 and a 12 month high of $170.80. The firm has a market cap of $174.05 billion, a P/E ratio of 52.13, a PEG ratio of 1.71 and a beta of 1.23. The business’s 50-day simple moving average is $162.36 and its 200-day simple moving average is $151.17. 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 (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The firm 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 business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 EPS. As a group, analysts predict that General Electric will post 3.99 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of several research reports. Citigroup lifted their target price on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. lifted their price objective on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Jefferies Financial Group increased their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. UBS Group raised their target price on shares of General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, 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. Two 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, General Electric currently has an average rating of “Moderate Buy” and an average price target of $177.60.

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.