NorthRock Partners LLC Acquires 2,175 Shares of General Electric (NYSE:GE)

NorthRock Partners LLC raised its holdings in shares of General Electric (NYSE:GE) by 30.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,237 shares of the conglomerate’s stock after acquiring an additional 2,175 shares during the quarter. NorthRock Partners LLC’s holdings in General Electric were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in GE. Halpern Financial Inc. grew its position in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after buying an additional 184 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in shares of General Electric in the fourth quarter worth approximately $27,000. CGC Financial Services LLC raised its stake in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 110 shares in the last quarter. Capital Analysts LLC lifted its position in General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares during the last quarter. Finally, Bfsg LLC purchased a new position in General Electric in the 4th quarter worth approximately $32,000. 74.77% of the stock is owned by institutional investors.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction dated 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 sale, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by insiders.

General Electric Price Performance

GE traded up $0.55 on Monday, hitting $159.56. 5,377,990 shares of the company’s stock traded hands, compared to its average volume of 7,128,386. The company’s 50 day simple moving average is $162.59 and its 200-day simple moving average is $154.17. 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 has a one year low of $84.42 and a one year high of $170.80. The firm has a market cap of $174.66 billion, a price-to-earnings ratio of 52.18, a P/E/G ratio of 1.68 and a beta of 1.21.

General Electric (NYSE:GE) last posted its earnings results 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. The firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. As a group, research analysts anticipate that General Electric will post 4.02 EPS for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be issued a $0.28 dividend. 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%.

Analysts Set New Price Targets

GE has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price objective on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Citigroup lifted their price objective on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Barclays dropped their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, The Goldman Sachs Group upped their price objective on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.93.

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.