Clarity Capital Partners LLC Invests $289,000 in General Electric (NYSE:GE)

Clarity Capital Partners LLC purchased a new position in shares of General Electric (NYSE:GE) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,647 shares of the conglomerate’s stock, valued at approximately $289,000.

Other large investors also recently modified their holdings of the company. Halpern Financial Inc. raised 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 valued at $25,000 after purchasing an additional 184 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in General Electric in the fourth quarter valued at $27,000. CGC Financial Services LLC grew its position 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 acquiring an additional 110 shares during the period. Capital Analysts LLC grew its position in General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 87 shares during the period. Finally, Bfsg LLC bought a new stake in General Electric in the fourth quarter valued at $32,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Trading Up 1.6 %

NYSE:GE traded up $2.57 during mid-day trading on Wednesday, hitting $165.70. The company had a trading volume of 3,903,249 shares, compared to its average volume of 7,170,104. The firm has a market cap of $181.38 billion, a P/E ratio of 54.33, a P/E/G ratio of 1.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The business’s fifty day moving average is $162.71 and its two-hundred day moving average is $153.52. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $170.80.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $0.27 earnings per share. As a group, research analysts expect that General Electric will post 4.02 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Vertical Research assumed coverage on General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and raised their price target for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Barclays decreased 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. Citigroup raised their price target on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.93.

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 transaction, 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 SEC, which can be accessed through this link. 0.66% of the stock is currently owned by insiders.

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.