General Electric (NYSE:GE) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. cut its holdings in General Electric (NYSE:GE) by 11.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 28,020 shares of the conglomerate’s stock after selling 3,606 shares during the period. 1832 Asset Management L.P.’s holdings in General Electric were worth $4,918,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Capital World Investors raised its position in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Norges Bank bought a new stake in shares of General Electric during the 4th quarter worth about $1,193,159,000. Capital International Investors raised its position in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares in the last quarter. Finally, WCM Investment Management LLC bought a new stake in shares of General Electric during the 4th quarter worth about $520,488,000. 74.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and boosted their target price for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. UBS Group boosted their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Finally, Barclays dropped their target price on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $183.93.

General Electric Stock Up 3.1 %

General Electric stock traded up $5.14 during trading hours on Friday, hitting $169.81. The company had a trading volume of 7,297,730 shares, compared to its average volume of 5,743,017. The firm has a market capitalization of $184.13 billion, a P/E ratio of 55.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.82. The firm’s fifty day moving average is $162.35 and its 200-day moving average is $156.49. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion for 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 quarter in the prior year, the business earned $0.68 EPS. On average, research analysts forecast that General Electric will post 4.1 earnings per share for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.66%. General Electric’s dividend payout ratio is presently 36.72%.

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.