General Electric (NYSE:GE) Shares Sold by Successful Portfolios LLC

Successful Portfolios LLC decreased its position in shares of General Electric (NYSE:GE) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,373 shares of the conglomerate’s stock after selling 102 shares during the quarter. Successful Portfolios LLC’s holdings in General Electric were worth $417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GE. Walker Asset Management LLC lifted its holdings in General Electric by 1.7% in the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock valued at $722,000 after acquiring an additional 70 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in General Electric by 1.7% in the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after acquiring an additional 74 shares during the period. Checchi Capital Advisers LLC lifted its holdings in General Electric by 1.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock valued at $814,000 after acquiring an additional 75 shares during the period. Forte Capital LLC ADV increased its position in shares of General Electric by 2.1% in the fourth quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock valued at $519,000 after buying an additional 83 shares in the last quarter. Finally, Atlas Brown Inc. increased its position in shares of General Electric by 1.0% in the fourth quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock valued at $1,062,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity

In other news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was 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 of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Performance

NYSE GE opened at $158.97 on Monday. The stock’s fifty day moving average is $162.36 and its two-hundred day moving average is $151.59. The firm has a market capitalization of $174.01 billion, a P/E ratio of 52.12, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. 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 fifty-two week low of $84.42 and a fifty-two week high of $170.80.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion for 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 firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, research analysts anticipate 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. Stockholders of record on Thursday, July 11th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analysts Set New Price Targets

A number of analysts have recently commented on GE shares. Citigroup boosted their price objective on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company boosted their price objective on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. UBS Group boosted their price objective on General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. StockNews.com initiated coverage on General Electric in a research report on Monday, April 29th. They issued a “hold” rating for the company. Finally, Barclays dropped their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $181.36.

General Electric Company 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.