Mission Wealth Management LP Purchases 3,081 Shares of General Electric (NYSE:GE)

Mission Wealth Management LP lifted its position in shares of General Electric (NYSE:GE) by 37.1% in the first quarter, HoldingsChannel.com reports. The fund owned 11,395 shares of the conglomerate’s stock after buying an additional 3,081 shares during the period. Mission Wealth Management LP’s holdings in General Electric were worth $2,000,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in General Electric in the 4th quarter valued at approximately $1,193,159,000. WCM Investment Management LLC acquired a new position in General Electric in the 4th quarter valued at approximately $520,488,000. Lone Pine Capital LLC acquired a new position in General Electric in the 4th quarter valued at approximately $268,519,000. Brown Advisory Inc. increased 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 valued at $623,058,000 after acquiring an additional 1,873,327 shares during the period. Finally, International Assets Investment Management LLC increased its position in General Electric by 11,947.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock valued at $201,218,000 after acquiring an additional 1,563,484 shares during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent research reports. Barclays decreased their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Vertical Research began coverage on shares of General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Bank of America increased their price objective on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and increased their target price for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.93.

General Electric Stock Down 1.5 %

Shares of GE traded down $2.50 during trading hours on Friday, reaching $160.50. 4,668,292 shares of the stock traded hands, compared to its average volume of 5,518,849. 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 stock has a fifty day simple moving average of $162.59 and a 200 day simple moving average of $152.53. General Electric has a 52 week low of $84.42 and a 52 week high of $170.80. The company has a market cap of $175.68 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 1.72 and a beta of 1.21.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating 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 company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period last year, the firm earned $0.27 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts forecast that General Electric will post 4.02 EPS for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a dividend of $0.28 per share. The ex-dividend date 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%.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction dated 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 transaction, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

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.