Chapin Davis Inc. Has $4.98 Million Stock Holdings in General Electric (NYSE:GE)

Chapin Davis Inc. increased its holdings in shares of General Electric (NYSE:GE) by 43.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,340 shares of the conglomerate’s stock after purchasing an additional 9,496 shares during the quarter. General Electric makes up about 1.7% of Chapin Davis Inc.’s investment portfolio, making the stock its 10th biggest holding. Chapin Davis Inc.’s holdings in General Electric were worth $4,982,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Criterion Capital Advisors LLC bought a new position in shares of General Electric in the 4th quarter valued at about $27,000. Capital Analysts LLC increased its position in General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares during the last quarter. Bfsg LLC bought a new stake in General Electric in the fourth quarter valued at approximately $32,000. Kapitalo Investimentos Ltda acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new position in shares of General Electric during the 1st quarter worth approximately $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE traded down $0.52 during mid-day trading on Friday, reaching $169.42. The company had a trading volume of 3,305,648 shares, compared to its average volume of 6,935,916. The company has a market capitalization of $185.45 billion, a price-to-earnings ratio of 55.55, a P/E/G ratio of 1.70 and a beta of 1.21. 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 company’s 50 day simple moving average is $163.24 and its 200 day simple moving average is $160.51. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20.

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

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.66%. General Electric’s dividend payout ratio is presently 36.72%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GE shares. Wells Fargo & Company raised their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Citigroup boosted their price objective on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group lifted their price target on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their target price on General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $190.38.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.