CRA Financial Services LLC Invests $284,000 in General Electric (NYSE:GE)

CRA Financial Services LLC bought a new position in shares of General Electric (NYSE:GE) in the first quarter, HoldingsChannel reports. The institutional investor bought 1,618 shares of the conglomerate’s stock, valued at approximately $284,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Walker Asset Management LLC raised its position in shares of General Electric by 1.7% during the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after acquiring an additional 70 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in General Electric by 1.7% in the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after purchasing an additional 74 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in General Electric by 1.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock valued at $814,000 after purchasing an additional 75 shares during the last quarter. Forte Capital LLC ADV increased its holdings in General Electric by 2.1% in the fourth quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock valued at $519,000 after purchasing an additional 83 shares during the last quarter. Finally, Atlas Brown Inc. increased its holdings in General Electric by 1.0% in the fourth quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock valued at $1,062,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

General Electric Stock Down 1.0 %

Shares of GE stock traded down $1.53 on Friday, hitting $158.97. 8,641,197 shares of the stock were exchanged, compared to its average volume of 6,007,353. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $174.01 billion, a P/E ratio of 52.12, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23. The business has a 50-day moving average of $162.36 and a 200 day moving average of $151.37. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $170.80.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share 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 analysts’ expectations of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities analysts anticipate that General Electric will post 3.99 EPS for the current year.

General Electric Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Vertical Research assumed 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. Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Argus upped 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. Oppenheimer reissued a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Finally, Citigroup boosted their target price on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $181.36.

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.