FORVIS Wealth Advisors LLC Raises Holdings in General Electric (NYSE:GE)

FORVIS Wealth Advisors LLC lifted its holdings in General Electric (NYSE:GE) by 3.9% during the first quarter, Holdings Channel reports. The institutional investor owned 9,289 shares of the conglomerate’s stock after purchasing an additional 352 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in General Electric were worth $1,630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GE. Vanguard Group Inc. increased its holdings in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares in the last quarter. Norges Bank purchased a new position in General Electric in the 4th quarter valued at approximately $1,193,159,000. Morgan Stanley raised its holdings in General Electric by 5.1% during the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after purchasing an additional 434,736 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in General Electric by 6.9% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock worth $849,385,000 after purchasing an additional 426,794 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in General Electric by 62.3% in the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock valued at $623,058,000 after purchasing an additional 1,873,327 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In other 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 value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.66% of the stock is owned by company insiders.

General Electric Trading Down 0.9 %

Shares of NYSE GE traded down $1.40 on Friday, reaching $161.60. 199,086 shares of the company traded hands, compared to its average volume of 7,215,840. The company has a 50 day moving average of $162.62 and a 200 day moving average of $152.27. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $170.80. The stock has a market capitalization of $176.89 billion, a PE ratio of 53.44, a P/E/G ratio of 1.72 and a beta of 1.21.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. The firm had revenue of $16.10 billion during 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%. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. On average, equities research analysts forecast that General Electric will post 4.02 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company 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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, July 11th. General Electric’s payout ratio is currently 36.72%.

Analysts Set New Price Targets

Several equities research analysts recently commented on GE shares. StockNews.com began coverage on shares of General Electric in a research report on Monday, April 29th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Vertical Research initiated coverage on General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective for the company. Argus raised their price target on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company boosted their price target on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. 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, General Electric has an average rating of “Moderate Buy” and a consensus target price of $181.93.

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.