Saxon Interests Inc. Purchases New Shares in General Electric (NYSE:GE)

Saxon Interests Inc. purchased a new stake in shares of General Electric (NYSE:GE) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,337 shares of the conglomerate’s stock, valued at approximately $235,000.

A number of other large investors also recently made changes to their positions in the company. Halpern Financial Inc. raised its position in General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the period. Criterion Capital Advisors LLC bought a new stake in General Electric in the fourth quarter worth about $27,000. CGC Financial Services LLC raised its position in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares during the period. Capital Analysts LLC raised its position in General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the period. Finally, Bfsg LLC bought a new stake in General Electric in the fourth quarter worth about $32,000. 74.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 45,309 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

General Electric Price Performance

NYSE:GE traded up $2.50 during mid-day trading on Tuesday, hitting $161.47. 5,246,791 shares of the stock traded hands, compared to its average volume of 7,303,346. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a 12-month low of $84.42 and a 12-month high of $170.80. The company has a market cap of $176.75 billion, a PE ratio of 52.65, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. The business’s 50-day moving average price is $162.53 and its 200 day moving average price is $151.85.

General Electric (NYSE:GE) last released its quarterly earnings results 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 net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the previous year, the company earned $0.27 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts expect that General Electric will post 4 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid a $0.28 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. General Electric’s dividend payout ratio is presently 36.72%.

Analysts Set New Price Targets

Several brokerages have commented on GE. Barclays lowered their price objective on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Royal Bank of Canada lifted their target price on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Wells Fargo & Company lifted their target price on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, StockNews.com started coverage on shares of General Electric in a research note on Monday, April 29th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.93.

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.