General Electric (NYSE:GE) Position Lifted by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC raised its stake in General Electric (NYSE:GE) by 72.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,300 shares of the conglomerate’s stock after purchasing an additional 2,640 shares during the period. Lake Street Advisors Group LLC’s holdings in General Electric were worth $1,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Choate Investment Advisors lifted its holdings in General Electric by 0.4% in the 1st quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock worth $2,808,000 after purchasing an additional 65 shares during the last quarter. Walker Asset Management LLC grew its stake in General Electric by 1.7% in the 1st quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock valued at $722,000 after buying an additional 70 shares during the last quarter. BKM Wealth Management LLC raised its holdings in General Electric by 2.6% in the 1st quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock worth $495,000 after acquiring an additional 72 shares during the period. Dorsey & Whitney Trust CO LLC lifted its position in General Electric by 1.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,777 shares of the conglomerate’s stock worth $663,000 after acquiring an additional 72 shares during the last quarter. Finally, Great Valley Advisor Group Inc. boosted its holdings in General Electric by 1.7% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after acquiring an additional 74 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE GE traded down $9.70 during trading on Wednesday, reaching $162.30. 7,323,617 shares of the company traded hands, compared to its average volume of 7,153,121. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The stock’s 50 day moving average price is $162.08 and its two-hundred day moving average price is $155.95. The company has a market cap of $177.66 billion, a price-to-earnings ratio of 53.21, a P/E/G ratio of 1.72 and a beta of 1.21.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the firm earned $0.68 EPS. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts anticipate that General Electric will post 4.02 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared 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. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Jefferies Financial Group upped their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com assumed coverage on shares of General Electric in a research report on Monday, April 29th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada increased their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.93.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the sale, 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 available through this link. Company insiders own 0.66% of the company’s stock.

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.