General Electric (NYSE:GE) Stake Increased by CreativeOne Wealth LLC

CreativeOne Wealth LLC lifted its stake in General Electric (NYSE:GE) by 80.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,176 shares of the conglomerate’s stock after acquiring an additional 3,201 shares during the quarter. CreativeOne Wealth LLC’s holdings in General Electric were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Delap Wealth Advisory LLC bought a new position in General Electric during the first quarter worth about $576,000. Vident Advisory LLC raised its stake in shares of General Electric by 163.0% in the first quarter. Vident Advisory LLC now owns 55,453 shares of the conglomerate’s stock valued at $9,734,000 after acquiring an additional 34,370 shares during the last quarter. Payden & Rygel Investment Group acquired a new stake in General Electric during the 1st quarter worth $11,427,000. Crewe Advisors LLC acquired a new stake in General Electric during the 1st quarter worth $558,000. Finally, Evermay Wealth Management LLC grew its holdings in General Electric by 59.0% during the 1st quarter. Evermay Wealth Management LLC now owns 2,002 shares of the conglomerate’s stock worth $351,000 after acquiring an additional 743 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays cut 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 report on Wednesday, April 3rd. Jefferies Financial Group boosted their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Vertical Research initiated coverage on shares of General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 price target on the stock. Finally, Citigroup increased their target price on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $183.93.

General Electric Stock Performance

Shares of NYSE GE traded up $6.55 during trading on Friday, reaching $171.22. 4,273,304 shares of the company traded hands, compared to its average volume of 7,142,608. The company has a quick ratio of 0.82, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $185.66 billion, a PE ratio of 55.75, a P/E/G ratio of 1.72 and a beta of 1.21. The firm has a 50 day simple moving average of $162.16 and a 200-day simple moving average of $156.01. General Electric has a 52-week low of $84.42 and a 52-week high of $177.20.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter last year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 4.02 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 45,309 shares of the company’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 transaction, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by insiders.

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.