Aviance Capital Partners LLC Takes $306,000 Position in General Electric (NYSE:GE)

Aviance Capital Partners LLC acquired a new stake in General Electric (NYSE:GE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,746 shares of the conglomerate’s stock, valued at approximately $306,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Halpern Financial Inc. increased its holdings in 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 buying an additional 184 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in General Electric in the fourth quarter valued at about $27,000. CGC Financial Services LLC lifted 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 purchasing an additional 110 shares during the period. Capital Analysts LLC lifted its position in shares of General Electric by 55.8% during the 4th 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 acquired a new stake in shares of General Electric during the 4th quarter valued at approximately $32,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. Barclays reduced their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. raised their price objective 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. Royal Bank of Canada raised their price objective 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. StockNews.com assumed coverage on shares of General Electric in a research note on Monday, April 29th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group lifted 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $181.93.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction 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 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 Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by company insiders.

General Electric Stock Down 1.2 %

Shares of NYSE:GE traded down $1.96 during midday trading on Monday, hitting $157.01. 670,920 shares of the company’s stock traded hands, compared to its average volume of 7,294,719. 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 company has a market cap of $171.86 billion, a PE ratio of 52.14, a P/E/G ratio of 1.69 and a beta of 1.22. The firm’s fifty day moving average price is $162.36 and its two-hundred day moving average price is $151.59. General Electric has a twelve month low of $84.42 and a twelve month high of $170.80.

General Electric (NYSE:GE) last posted its 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. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. On average, equities research analysts anticipate that General Electric will post 4 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.71%. General Electric’s payout ratio is 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.