Stewart & Patten Co. LLC Has $1.13 Million Position in General Electric (NYSE:GE)

Stewart & Patten Co. LLC reduced its stake in shares of General Electric (NYSE:GE) by 6.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,435 shares of the conglomerate’s stock after selling 425 shares during the quarter. Stewart & Patten Co. LLC’s holdings in General Electric were worth $1,130,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Consilio Wealth Advisors LLC bought a new position in shares of General Electric during the 1st quarter valued at about $213,000. Claro Advisors LLC lifted its holdings in shares of General Electric by 5.4% during the 1st quarter. Claro Advisors LLC now owns 4,202 shares of the conglomerate’s stock valued at $738,000 after purchasing an additional 216 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of General Electric by 6.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 2,184 shares of the conglomerate’s stock valued at $383,000 after purchasing an additional 135 shares in the last quarter. Little House Capital LLC bought a new stake in General Electric in the 1st quarter valued at approximately $311,000. Finally, BKM Wealth Management LLC lifted its stake in General Electric by 2.6% in the 1st quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock valued at $495,000 after acquiring an additional 72 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GE shares. Bank of America boosted their target price on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Citigroup boosted their target price on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and upped their price objective for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Barclays dropped their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft upped 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. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.93.

General Electric Stock Performance

Shares of GE stock traded up $0.01 during trading on Monday, reaching $158.98. 4,433,602 shares of the company’s stock were exchanged, compared to its average volume of 7,324,816. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $174.02 billion, a PE ratio of 52.12, a PEG ratio of 1.69 and a beta of 1.22. General Electric has a twelve month low of $84.42 and a twelve month high of $170.80. The firm’s fifty day moving average price is $162.36 and its 200-day moving average price is $151.59.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the prior year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that General Electric will post 4 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s dividend payout ratio is 36.72%.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of the firm’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 transaction, the senior vice president now 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 can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

General Electric 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.