Ballentine Partners LLC Grows Stock Holdings in General Electric (NYSE:GE)

Ballentine Partners LLC grew its holdings in General Electric (NYSE:GE) by 15.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,249 shares of the conglomerate’s stock after purchasing an additional 2,189 shares during the quarter. Ballentine Partners LLC’s holdings in General Electric were worth $2,852,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of General Electric during the 3rd quarter valued at approximately $197,000. Dark Forest Capital Management LP grew its stake in shares of General Electric by 32.6% in the third quarter. Dark Forest Capital Management LP now owns 5,015 shares of the conglomerate’s stock worth $554,000 after acquiring an additional 1,232 shares in the last quarter. LPL Financial LLC grew its stake in shares of General Electric by 2.7% in the third quarter. LPL Financial LLC now owns 491,017 shares of the conglomerate’s stock worth $54,282,000 after acquiring an additional 12,726 shares in the last quarter. Mariner LLC grew its stake in shares of General Electric by 9.7% in the third quarter. Mariner LLC now owns 168,390 shares of the conglomerate’s stock worth $18,616,000 after acquiring an additional 14,944 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of General Electric by 5.4% in the third quarter. Stifel Financial Corp now owns 412,312 shares of the conglomerate’s stock worth $45,582,000 after acquiring an additional 21,285 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Russell Stokes sold 45,309 shares of the 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GE. Royal Bank of Canada boosted their target price on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group boosted their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Argus upped their price objective on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Citigroup upped their price objective on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, UBS Group upped their price objective on shares of General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Two investment 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 a consensus rating of “Moderate Buy” and an average target price of $177.27.

General Electric Price Performance

GE traded down $0.07 on Monday, hitting $164.17. 424,815 shares of the company were exchanged, compared to its average volume of 7,358,756. 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 $161.69 and its 200 day moving average is $150.20. General Electric has a fifty-two week low of $82.69 and a fifty-two week high of $170.80. The firm has a market capitalization of $179.70 billion, a P/E ratio of 53.85, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Electric will post 3.99 EPS for the current year.

General Electric Announces Dividend

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 $0.28 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. 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.