1,269 Shares in General Electric (NYSE:GE) Acquired by Sweeney & Michel LLC

Sweeney & Michel LLC acquired a new position in General Electric (NYSE:GE) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 1,269 shares of the conglomerate’s stock, valued at approximately $203,000.

Several other institutional investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC raised its position in General Electric by 38.7% in the 1st quarter. Janus Henderson Group PLC now owns 149,769 shares of the conglomerate’s stock worth $26,280,000 after purchasing an additional 41,795 shares during the last quarter. Kingdon Capital Management L.L.C. bought a new position in General Electric in the 1st quarter worth approximately $13,165,000. Kinetic Partners Management LP raised its position in General Electric by 22.7% in the 1st quarter. Kinetic Partners Management LP now owns 294,100 shares of the conglomerate’s stock worth $51,623,000 after purchasing an additional 54,500 shares during the last quarter. Bayberry Capital Partners LP bought a new position in General Electric in the 1st quarter worth approximately $14,042,000. Finally, Benchmark Investment Advisors LLC bought a new position in General Electric in the 1st quarter worth approximately $857,000. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In related 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 completion of the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

General Electric Trading Down 1.4 %

Shares of GE stock traded down $2.36 on Tuesday, hitting $167.51. The stock had a trading volume of 5,328,831 shares, compared to its average volume of 7,137,227. General Electric has a twelve month low of $84.42 and a twelve month high of $177.20. The firm has a market cap of $181.63 billion, a P/E ratio of 54.92, a PEG ratio of 1.71 and a beta of 1.22. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a fifty day moving average price of $162.70 and a two-hundred day moving average price of $157.23.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. As a group, analysts forecast that General Electric will post 4.13 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently announced 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 0.67%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s payout ratio is presently 36.72%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. 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 report on Friday, June 28th. Vertical Research began coverage on shares of General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price for the company. UBS Group upped their target price on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. JPMorgan Chase & Co. upped their target price 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. Finally, Argus upped their target price on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.71.

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.