General Electric (NYSE:GE) Position Boosted by American International Group Inc.

American International Group Inc. raised its holdings in shares of General Electric (NYSE:GE) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,049 shares of the conglomerate’s stock after acquiring an additional 3,238 shares during the quarter. American International Group Inc.’s holdings in General Electric were worth $35,998,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Halpern Financial Inc. grew its stake in General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 184 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of General Electric in the 4th quarter valued at approximately $27,000. CGC Financial Services LLC grew its stake in shares of General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares in the last quarter. Capital Analysts LLC grew its stake in shares of General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares in the last quarter. Finally, Bfsg LLC bought a new stake in shares of General Electric in the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of NYSE GE traded up $0.19 during trading hours on Friday, reaching $155.88. The stock had a trading volume of 6,247,401 shares, compared to its average volume of 5,314,039. The business’s fifty day moving average is $160.84 and its two-hundred day moving average is $148.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The company has a market cap of $170.63 billion, a price-to-earnings ratio of 51.11, a PEG ratio of 1.66 and a beta of 1.23. General Electric has a twelve month low of $82.11 and a twelve month high of $170.80.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. As a group, research analysts expect that General Electric will post 3.99 EPS for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio is 36.72%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GE. Oppenheimer reissued a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Argus upped their target price on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. UBS Group upped their target price on General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Barclays decreased their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $177.27.

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 on 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

About General Electric

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.