Hemenway Trust Co LLC Makes New Investment in General Electric (NYSE:GE)

Hemenway Trust Co LLC acquired a new stake in General Electric (NYSE:GE) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,516 shares of the conglomerate’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GE. Halpern Financial Inc. increased its holdings in shares of General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 184 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of General Electric in the fourth quarter valued at $27,000. CGC Financial Services LLC increased its holdings in shares of General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 110 shares during the last quarter. Capital Analysts LLC increased its holdings in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares during the last quarter. Finally, Bfsg LLC acquired a new position in shares of General Electric in the fourth quarter valued at $32,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GE has been the topic of several research reports. Barclays decreased their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Royal Bank of Canada upped their price target on shares of General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and upped their price target for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Jefferies Financial Group upped their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $181.93.

General Electric Price Performance

Shares of GE stock traded down $3.90 on Thursday, reaching $161.80. The company had a trading volume of 4,553,837 shares, compared to its average volume of 7,150,291. The stock has a market capitalization of $177.11 billion, a PE ratio of 53.05, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a one year low of $84.42 and a one year high of $170.80. The business’s 50-day moving average is $162.70 and its 200 day moving average is $153.58.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (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 net margin of 5.05% and a return on equity of 12.54%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $0.27 EPS. Equities research analysts forecast that General Electric will post 4.02 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a $0.28 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.66% of the stock is owned by company insiders.

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.