Investment Partners LTD. Invests $257,000 in General Electric (NYSE:GE)

Investment Partners LTD. bought a new position in General Electric (NYSE:GE) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,465 shares of the conglomerate’s stock, valued at approximately $257,000.

Several other hedge funds have also modified their holdings of the stock. Dark Forest Capital Management LP increased its position in General Electric by 32.6% during the 3rd quarter. Dark Forest Capital Management LP now owns 5,015 shares of the conglomerate’s stock worth $554,000 after purchasing an additional 1,232 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in General Electric by 31.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 2,919 shares of the conglomerate’s stock worth $323,000 after acquiring an additional 690 shares during the period. Mather Group LLC. grew its position in General Electric by 11.0% in the third quarter. Mather Group LLC. now owns 8,307 shares of the conglomerate’s stock valued at $918,000 after acquiring an additional 824 shares in the last quarter. Synovus Financial Corp raised its stake in shares of General Electric by 12.1% during the third quarter. Synovus Financial Corp now owns 29,835 shares of the conglomerate’s stock valued at $3,298,000 after purchasing an additional 3,225 shares during the period. Finally, Roundview Capital LLC lifted its position in shares of General Electric by 9.8% during the third quarter. Roundview Capital LLC now owns 2,558 shares of the conglomerate’s stock worth $283,000 after purchasing an additional 228 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on GE. Jefferies Financial Group lifted their price target on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. The Goldman Sachs Group lifted their price objective on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. UBS Group increased their target price on General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. increased their price objective on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Finally, Barclays dropped their target price on shares of 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 equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

Insider Activity 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 shares were 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 owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

General Electric Stock Performance

GE stock traded down $0.69 on Friday, reaching $159.81. The company’s stock had a trading volume of 965,101 shares, compared to its average volume of 7,285,469. The firm has a fifty day moving average of $161.99 and a two-hundred day moving average of $150.84. 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 capitalization of $174.93 billion, a P/E ratio of 52.58, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23. General Electric has a 52 week low of $84.42 and a 52 week high of $170.80.

General Electric (NYSE:GE) last issued its quarterly 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 company had revenue of $16.10 billion for 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%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. As a group, analysts predict that General Electric will post 3.99 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

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.