New England Research & Management Inc. Acquires 63 Shares of General Electric (NYSE:GE)

New England Research & Management Inc. raised its stake in shares of General Electric (NYSE:GE) by 2.2% in the 2nd quarter, Holdings Channel reports. The firm owned 2,910 shares of the conglomerate’s stock after purchasing an additional 63 shares during the quarter. New England Research & Management Inc.’s holdings in General Electric were worth $463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GE. Criterion Capital Advisors LLC bought a new stake in shares of General Electric during the fourth quarter valued at approximately $27,000. Capital Analysts LLC increased its stake in General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares in the last quarter. Bfsg LLC acquired a new position in General Electric during the fourth quarter worth $32,000. Kapitalo Investimentos Ltda bought a new position in shares of General Electric in the fourth quarter valued at $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric during the first quarter valued at about $34,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction dated Thursday, May 23rd. The stock was 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 document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by company insiders.

General Electric Price Performance

Shares of GE traded up $3.83 during mid-day trading on Tuesday, reaching $162.19. The stock had a trading volume of 5,055,198 shares, compared to its average volume of 7,112,696. The business has a fifty day moving average of $162.65 and a 200 day moving average of $158.25. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a market cap of $177.53 billion, a price-to-earnings ratio of 53.33, a PEG ratio of 1.70 and a beta of 1.21. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20.

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

General Electric Announces Dividend

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

Analyst Ratings Changes

GE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased 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. Citigroup raised their price objective on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada raised their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.71.

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.