1,696 Shares in General Electric (NYSE:GE) Purchased by MJP Associates Inc. ADV

MJP Associates Inc. ADV bought a new position in General Electric (NYSE:GE) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,696 shares of the conglomerate’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC increased its stake in General Electric by 122,242.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock valued at $878,644,000 after buying an additional 13,427,079 shares during the last quarter. Norges Bank purchased a new stake in General Electric in the 4th quarter valued at about $635,274,000. State Street Corp increased its stake in General Electric by 17.3% in the 1st quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock valued at $4,639,533,000 after buying an additional 7,157,356 shares during the last quarter. Brown Advisory Inc. increased its stake in General Electric by 265.7% in the 3rd quarter. Brown Advisory Inc. now owns 3,008,425 shares of the conglomerate’s stock valued at $332,581,000 after buying an additional 2,185,793 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in General Electric by 1,728.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,782,245 shares of the conglomerate’s stock valued at $195,780,000 after buying an additional 1,684,777 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Down 2.5 %

Shares of NYSE:GE traded down $4.59 during trading hours on Thursday, hitting $175.53. The company’s stock had a trading volume of 9,642,878 shares, compared to its average volume of 6,038,135. General Electric has a 52 week low of $93.47 and a 52 week high of $180.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85. The company has a market capitalization of $191.90 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 2.30 and a beta of 1.28. The firm’s fifty day moving average price is $151.58 and its 200 day moving average price is $129.37.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm had revenue of $19.42 billion for the quarter, compared to the consensus estimate of $17.27 billion. During the same quarter in the previous year, the firm earned $1.24 EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, research analysts expect that General Electric will post 4.57 EPS for the current year.

Insiders Place Their Bets

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GE shares. JPMorgan Chase & Co. raised shares of General Electric from a “neutral” rating to an “overweight” rating and increased their target price for the company from $166.00 to $180.00 in a research report on Friday, March 8th. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Barclays upped their price objective on shares of General Electric from $153.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Wells Fargo & Company upped their price objective on shares of General Electric from $177.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Royal Bank of Canada boosted their price target on shares of General Electric from $148.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.54.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.