Breakwater Capital Group Sells 622 Shares of General Electric (NYSE:GE)

Breakwater Capital Group decreased its position in General Electric (NYSE:GE) by 9.4% during the first quarter, HoldingsChannel.com reports. The firm owned 5,991 shares of the conglomerate’s stock after selling 622 shares during the quarter. Breakwater Capital Group’s holdings in General Electric were worth $1,052,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after purchasing an additional 550,996 shares in the last quarter. Norges Bank purchased a new position in General Electric in the 4th quarter worth about $1,193,159,000. Morgan Stanley raised its position in General Electric by 5.1% in the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after buying an additional 434,736 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in General Electric by 6.9% in the 4th 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 buying an additional 426,794 shares during the last quarter. Finally, Brown Advisory Inc. raised its position in General Electric by 62.3% in the 4th quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock worth $623,058,000 after buying an additional 1,873,327 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Activity

In other 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 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of a number of recent analyst reports. Bank of America boosted their target price on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group upped their price target on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. 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. Finally, Oppenheimer reissued a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $181.36.

General Electric Trading Down 1.0 %

GE traded down $1.53 during trading on Friday, reaching $158.97. The company had a trading volume of 8,641,197 shares, compared to its average volume of 6,007,353. 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 business has a 50 day simple moving average of $162.36 and a 200-day simple moving average of $151.59. General Electric has a 52 week low of $84.42 and a 52 week high of $170.80. The stock has a market cap of $174.01 billion, a P/E ratio of 52.12, a PEG ratio of 1.69 and a beta of 1.23.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share 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 business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. On average, equities analysts anticipate that General Electric will post 4 EPS for the current fiscal year.

General Electric Dividend Announcement

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

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.