Axxcess Wealth Management LLC Raises Stock Holdings in General Electric (NYSE:GE)

Axxcess Wealth Management LLC increased its position in General Electric (NYSE:GE) by 33.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,194 shares of the conglomerate’s stock after purchasing an additional 2,575 shares during the period. Axxcess Wealth Management LLC’s holdings in General Electric were worth $1,789,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new stake in shares of General Electric in the first quarter worth $34,000. Halpern Financial Inc. grew its stake in shares of General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in shares of General Electric in the first quarter worth $37,000. Criterion Capital Advisors LLC purchased a new stake in shares of General Electric in the fourth quarter worth $27,000. Finally, Capital Analysts LLC grew its stake in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of NYSE GE traded up $5.14 during trading on Friday, hitting $169.81. The company had a trading volume of 7,297,730 shares, compared to its average volume of 5,743,017. The stock has a 50 day simple moving average of $162.35 and a 200 day simple moving average of $156.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.14. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20. The firm has a market capitalization of $184.13 billion, a P/E ratio of 55.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter last year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts anticipate that General Electric will post 4.1 earnings per share for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Barclays lowered their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Wells Fargo & Company upped their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday. Argus upped their price target on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group upped their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report 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. According to data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.93.

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.