Bouvel Investment Partners LLC Cuts Holdings in General Electric (NYSE:GE)

Bouvel Investment Partners LLC cut its position in shares of General Electric (NYSE:GE) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,354 shares of the conglomerate’s stock after selling 193 shares during the quarter. General Electric comprises 1.8% of Bouvel Investment Partners LLC’s portfolio, making the stock its 18th biggest position. Bouvel Investment Partners LLC’s holdings in General Electric were worth $4,275,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Halpern Financial Inc. boosted its position 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 buying an additional 184 shares during the period. Criterion Capital Advisors LLC acquired a new stake in General Electric during the 4th quarter valued at $27,000. CGC Financial Services LLC lifted its holdings in General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after buying an additional 110 shares in the last quarter. Capital Analysts LLC lifted its holdings in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares in the last quarter. Finally, Bfsg LLC purchased a new position in General Electric in the 4th quarter valued at about $32,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on GE shares. JPMorgan Chase & Co. lifted their price target on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. The Goldman Sachs Group upped their target price 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. Argus lifted their price target on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada upped their price objective on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group lifted their target price on General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Two 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, the company has an average rating of “Moderate Buy” and an average price target of $177.27.

General Electric Trading Down 0.1 %

Shares of General Electric stock traded down $0.13 during trading on Thursday, hitting $160.51. The stock had a trading volume of 3,339,327 shares, compared to its average volume of 7,337,620. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $175.70 billion, a PE ratio of 52.62, a P/E/G ratio of 1.70 and a beta of 1.23. General Electric has a 1 year low of $83.98 and a 1 year high of $170.80. The stock has a 50 day simple moving average of $161.99 and a 200 day simple moving average of $150.84.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts expect that General Electric will post 3.99 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Activity

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