Blair William & Co. IL Acquires 9,587 Shares of General Electric (NYSE:GE)

Blair William & Co. IL grew its holdings in General Electric (NYSE:GE) by 5.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,301 shares of the conglomerate’s stock after purchasing an additional 9,587 shares during the period. Blair William & Co. IL’s holdings in General Electric were worth $30,595,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GE. Wilkins Investment Counsel Inc. bought a new stake in shares of General Electric during the first quarter valued at approximately $967,000. Kingsview Wealth Management LLC lifted its holdings in shares of General Electric by 5.3% in the 1st quarter. Kingsview Wealth Management LLC now owns 175,009 shares of the conglomerate’s stock worth $30,719,000 after buying an additional 8,762 shares during the period. TBH Global Asset Management LLC increased its position in General Electric by 17.0% during the 1st quarter. TBH Global Asset Management LLC now owns 2,307 shares of the conglomerate’s stock valued at $405,000 after purchasing an additional 336 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of General Electric by 20.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,298,931 shares of the conglomerate’s stock valued at $228,001,000 after purchasing an additional 223,231 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its position in shares of General Electric by 51.9% in the 1st quarter. Angeles Wealth Management LLC now owns 3,033 shares of the conglomerate’s stock worth $532,000 after purchasing an additional 1,036 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GE. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Wells Fargo & Company boosted their price target on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. StockNews.com began coverage on General Electric in a research note on Monday, April 29th. They set a “hold” rating for the company. Vertical Research initiated coverage on General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average target price of $181.93.

General Electric Stock Performance

General Electric stock traded up $0.30 during mid-day trading on Friday, reaching $159.09. 5,458,538 shares of the company traded hands, compared to its average volume of 7,087,625. The firm’s fifty day moving average is $161.89 and its two-hundred day moving average is $154.68. The company has a market capitalization of $174.14 billion, a price-to-earnings ratio of 52.39, a price-to-earnings-growth ratio of 1.66 and a beta of 1.21. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $170.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. 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 previous year, the company earned $0.27 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts expect that General Electric will post 4.02 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by 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.