Cohen Klingenstein LLC Invests $5.18 Million in General Electric (NYSE:GE)

Cohen Klingenstein LLC acquired a new stake in shares of General Electric (NYSE:GE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 32,589 shares of the conglomerate’s stock, valued at approximately $5,181,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Criterion Capital Advisors LLC purchased a new position in General Electric in the 4th quarter worth approximately $27,000. Capital Analysts LLC raised its stake in shares of 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. Bfsg LLC bought a new position in shares of General Electric during the fourth quarter valued at $32,000. Kapitalo Investimentos Ltda purchased a new stake in shares of General Electric during the fourth quarter valued at $32,000. Finally, Richardson Financial Services Inc. bought a new stake in General Electric in the 1st quarter worth about $34,000. 74.77% of the stock is currently owned by institutional investors.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction on 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 owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group boosted their target price on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. UBS Group upped their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, JPMorgan Chase & Co. upped their price target on General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.38.

General Electric Price Performance

General Electric stock traded down $0.20 during mid-day trading on Monday, reaching $166.93. 3,173,290 shares of the company’s stock traded hands, compared to its average volume of 7,019,531. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average of $162.67 and a two-hundred day moving average of $159.47. The company has a market cap of $182.72 billion, a price-to-earnings ratio of 54.73, a PEG ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the firm posted $0.68 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts forecast that General Electric will post 4.15 earnings per share for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is 36.72%.

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.