General Electric (NYSE:GE) Shares Bought by Apella Capital LLC

Apella Capital LLC raised its position in General Electric (NYSE:GE) by 3.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,949 shares of the conglomerate’s stock after acquiring an additional 112 shares during the period. Apella Capital LLC’s holdings in General Electric were worth $518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of General Electric in the 4th quarter valued at approximately $1,193,159,000. WCM Investment Management LLC purchased a new stake in shares of General Electric during the 4th quarter worth $520,488,000. Lone Pine Capital LLC acquired a new position in shares of General Electric during the 4th quarter worth $268,519,000. Brown Advisory Inc. grew its stake in shares of General Electric by 62.3% during the 4th quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock worth $623,058,000 after purchasing an additional 1,873,327 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of General Electric by 11,947.8% in the fourth quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock valued at $201,218,000 after purchasing an additional 1,563,484 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on GE shares. Citigroup upped their target price on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and upped their price target for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. 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 report on Wednesday, April 24th. Vertical Research started coverage on General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $177.27.

General Electric Trading Down 0.5 %

NYSE GE opened at $164.24 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a one year low of $82.11 and a one year high of $170.80. The company has a 50-day simple moving average of $161.69 and a 200-day simple moving average of $149.78. The firm has a market capitalization of $179.78 billion, a PE ratio of 53.85, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion during 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%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. On average, equities analysts forecast that General Electric will post 3.99 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. General Electric’s payout ratio is 36.72%.

Insider Activity

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.