General Electric (NYSE:GE) Shares Acquired by Wolff Wiese Magana LLC

Wolff Wiese Magana LLC raised its position in shares of General Electric (NYSE:GE) by 106.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256 shares of the conglomerate’s stock after acquiring an additional 132 shares during the quarter. Wolff Wiese Magana LLC’s holdings in General Electric were worth $45,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GE shares. The Goldman Sachs Group increased their price objective on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group increased their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup upped their price target on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Royal Bank of Canada upped their price target on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Barclays decreased their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.93.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the firm’s 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 transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is owned by insiders.

General Electric Stock Down 1.2 %

Shares of NYSE GE traded down $1.94 during mid-day trading on Monday, hitting $157.03. The company had a trading volume of 1,666,483 shares, compared to its average volume of 7,302,684. General Electric has a 1-year low of $84.42 and a 1-year high of $170.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The company has a market capitalization of $171.89 billion, a PE ratio of 51.20, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. The business’s 50-day simple moving average is $162.36 and its 200 day simple moving average is $151.59.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period last year, the firm earned $0.27 earnings per share. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts predict that General Electric will post 4 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently declared 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 0.71%. The ex-dividend date of this dividend is Thursday, July 11th. 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.