Oliver Luxxe Assets LLC Takes Position in General Electric (NYSE:GE)

Oliver Luxxe Assets LLC acquired a new position in shares of General Electric (NYSE:GEFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 29,855 shares of the conglomerate’s stock, valued at approximately $3,810,000.

Several other hedge funds also recently made changes to their positions in the company. Halpern Financial Inc. lifted its stake in General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after buying an additional 184 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in General Electric in the 4th quarter valued at about $27,000. CGC Financial Services LLC boosted its position in General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares during the last quarter. Capital Analysts LLC lifted its position in shares of General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the last quarter. Finally, Bfsg LLC bought a new position in shares of General Electric during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE traded down $4.91 on Wednesday, reaching $163.65. The stock had a trading volume of 4,819,770 shares, compared to its average volume of 7,553,340. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average of $162.21 and a 200 day moving average of $144.79. The firm has a market capitalization of $179.13 billion, a PE ratio of 54.42, a PEG ratio of 1.85 and a beta of 1.25. General Electric has a twelve month low of $79.76 and a twelve month high of $170.80.

General Electric (NYSE:GEGet Free Report) last issued its 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 firm had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts expect that General Electric will post 3.98 EPS for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were paid a dividend of $0.28 per share. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date was Friday, April 12th. General Electric’s payout ratio is 36.72%.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GE. Citigroup raised 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. Jefferies Financial Group increased their target price on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Vertical Research began coverage on shares of General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 price target on the stock. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $176.00.

View Our Latest Report on GE

General Electric Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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