Cornerstone Advisory LLC Makes New $223,000 Investment in General Electric (NYSE:GE)

Cornerstone Advisory LLC acquired a new stake in shares of General Electric (NYSE:GEFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,749 shares of the conglomerate’s stock, valued at approximately $223,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GE. Prime Capital Investment Advisors LLC raised its holdings in General Electric by 29.3% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after buying an additional 6,419 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of General Electric by 12.5% in the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock valued at $33,335,000 after acquiring an additional 28,985 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in General Electric by 10.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock worth $12,087,000 after purchasing an additional 10,722 shares during the last quarter. USA Financial Formulas grew its stake in General Electric by 24,042.9% in the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock valued at $1,294,000 after purchasing an additional 10,098 shares during the period. Finally, Grandfield & Dodd LLC increased its position in shares of General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after purchasing an additional 22,998 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

General Electric stock traded down $0.08 during midday trading on Tuesday, hitting $161.38. 5,148,101 shares of the company’s stock were exchanged, compared to its average volume of 7,522,374. The company has a market cap of $176.65 billion, a P/E ratio of 52.03, a PEG ratio of 1.82 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The stock has a 50-day moving average price of $161.31 and a two-hundred day moving average price of $146.10. General Electric has a 52-week low of $82.11 and a 52-week high of $170.80.

General Electric (NYSE:GEGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the prior year, the business earned $0.27 earnings per share. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that General Electric will post 3.98 earnings per share for the current year.

General Electric Increases Dividend

The business also recently announced 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 a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.69%. General Electric’s payout ratio is 36.72%.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of General Electric 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 completion of the sale, 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 available at the SEC website. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on GE shares. Jefferies Financial Group raised their price objective on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, April 29th. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and lifted their price target for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. UBS Group increased their price objective on General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Argus boosted their target price on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Vertical Research initiated coverage on General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 price target for the company. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.00.

Check Out Our Latest Research Report on General Electric

About General Electric

(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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