Thurston Springer Miller Herd & Titak Inc. Invests $219,000 in General Electric (NYSE:GE)

Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of General Electric (NYSE:GE) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,377 shares of the conglomerate’s stock, valued at approximately $219,000.

Several other institutional investors have also modified their holdings of the company. Criterion Capital Advisors LLC purchased a new stake in General Electric in the fourth quarter valued at $27,000. Capital Analysts LLC raised its holdings in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares during the last quarter. Bfsg LLC purchased a new stake in shares of General Electric in the fourth quarter valued at about $32,000. Kapitalo Investimentos Ltda purchased a new stake in shares of General Electric in the fourth quarter valued at about $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of General Electric in the first quarter valued at about $34,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the business’s 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 sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

General Electric Trading Up 2.4 %

Shares of General Electric stock traded up $3.83 during trading hours on Tuesday, hitting $162.19. The company’s stock had a trading volume of 5,055,198 shares, compared to its average volume of 7,112,696. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20. The business has a fifty day moving average of $162.65 and a 200 day moving average of $158.25. The company has a market capitalization of $177.53 billion, a PE ratio of 53.33, a P/E/G ratio of 1.70 and a beta of 1.21. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities analysts forecast that General Electric will post 4.15 EPS for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GE. The Goldman Sachs Group upped their target price on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and boosted their price target for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Citigroup boosted their price target on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Argus upped their target price on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company upped their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $185.71.

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.