Treasurer of the State of North Carolina Purchases 4,710 Shares of General Electric (NYSE:GE)

Treasurer of the State of North Carolina raised its position in General Electric (NYSE:GEFree Report) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 481,371 shares of the conglomerate’s stock after purchasing an additional 4,710 shares during the period. Treasurer of the State of North Carolina’s holdings in General Electric were worth $61,437,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Great Valley Advisor Group Inc. raised its stake in General Electric by 1.7% during the 4th quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after buying an additional 74 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of General Electric by 1.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock worth $814,000 after acquiring an additional 75 shares during the period. Forte Capital LLC ADV increased its position in General Electric by 2.1% during the fourth quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock valued at $519,000 after acquiring an additional 83 shares during the last quarter. Atlas Brown Inc. lifted its holdings in 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 acquiring an additional 85 shares during the period. Finally, Capital Analysts LLC boosted its position in General Electric by 55.8% in 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. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GE shares. Argus upped their price objective on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Barclays lowered their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. 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 note on Monday, May 13th. Royal Bank of Canada upped their target price on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, StockNews.com initiated coverage on General Electric in a report on Monday, April 29th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $176.00.

Check Out Our Latest Stock Report on General Electric

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were 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 directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by insiders.

General Electric Price Performance

GE stock traded up $0.55 during trading on Thursday, hitting $164.15. 4,384,291 shares of the company’s stock traded hands, compared to its average volume of 7,522,871. General Electric has a 52 week low of $79.76 and a 52 week high of $170.80. The stock has a market capitalization of $179.68 billion, a price-to-earnings ratio of 53.75, a P/E/G ratio of 1.86 and a beta of 1.25. The business has a fifty day simple moving average of $162.00 and a 200 day simple moving average of $144.92. 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 (NYSE:GEGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts expect that General Electric will post 3.98 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a $0.28 dividend. The ex-dividend date was Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

General Electric 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.

See Also

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

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