Advisory Services Network LLC Has $7.56 Million Stock Holdings in General Electric (NYSE:GE)

Advisory Services Network LLC increased its holdings in shares of General Electric (NYSE:GE) by 15.8% in the first quarter, Holdings Channel.com reports. The firm owned 43,060 shares of the conglomerate’s stock after purchasing an additional 5,888 shares during the quarter. Advisory Services Network LLC’s holdings in General Electric were worth $7,558,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Carlson Capital Management bought a new position in shares of General Electric during the 3rd quarter worth approximately $214,000. Comerica Bank lifted its holdings in General Electric by 1,711.5% during the 3rd quarter. Comerica Bank now owns 213,918 shares of the conglomerate’s stock valued at $23,649,000 after purchasing an additional 202,109 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in General Electric by 11.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 116,584 shares of the conglomerate’s stock valued at $12,888,000 after purchasing an additional 12,304 shares during the last quarter. Trust Co. of Vermont lifted its holdings in General Electric by 12.3% during the 3rd quarter. Trust Co. of Vermont now owns 5,446 shares of the conglomerate’s stock valued at $602,000 after purchasing an additional 597 shares during the last quarter. Finally, Okabena Investment Services Inc. acquired a new stake in shares of General Electric during the third quarter worth $1,711,000. 74.77% of the stock is owned by institutional investors.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Down 0.9 %

General Electric stock traded down $1.44 during trading on Friday, hitting $160.48. 1,586,312 shares of the company were exchanged, compared to its average volume of 7,106,473. The business’s 50 day moving average is $162.70 and its 200 day moving average is $153.58. General Electric has a 52 week low of $84.42 and a 52 week high of $170.80. The company has a market capitalization of $175.66 billion, a P/E ratio of 52.80, a PEG ratio of 1.75 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. Analysts predict 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 will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GE shares. Royal Bank of Canada lifted their target price on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Citigroup boosted their price target on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Bank of America lifted their price objective on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, The Goldman Sachs Group boosted their price target on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.93.

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.