Anchor Investment Management LLC Invests $942,000 in General Electric (NYSE:GE)

Anchor Investment Management LLC purchased a new stake in shares of General Electric (NYSE:GE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,380 shares of the conglomerate's stock, valued at approximately $942,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sei Investments Co. boosted its stake in General Electric by 10.0% during the first quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate's stock worth $27,925,000 after acquiring an additional 27,682 shares in the last quarter. Prudential PLC bought a new position in shares of General Electric in the first quarter worth approximately $1,518,000. Sequoia Financial Advisors LLC lifted its stake in shares of General Electric by 2.9% in the first quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate's stock worth $1,075,000 after buying an additional 334 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of General Electric in the first quarter worth approximately $388,000. Finally, West Family Investments Inc. bought a new position in shares of General Electric in the first quarter worth approximately $230,000. Hedge funds and other institutional investors own 74.83% of the company's stock.

Analyst Ratings Changes

GE has been the topic of several analyst reports. Wells Fargo & Company upped their target price on shares of General Electric from $144.00 to $148.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 24th. StockNews.com initiated coverage on shares of General Electric in a research note on Tuesday. They issued a "hold" rating on the stock. JPMorgan Chase & Co. upgraded shares of General Electric from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $166.00 to $180.00 in a research note on Friday, March 8th. Barclays increased their price objective on shares of General Electric from $153.00 to $181.00 and gave the company an "overweight" rating in a research report on Thursday, February 29th. Finally, Jefferies Financial Group increased their price objective on shares of General Electric from $180.00 to $195.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, General Electric presently has an average rating of "Moderate Buy" and a consensus target price of $146.54.

General Electric Stock Performance

GE stock traded up $2.30 during midday trading on Friday, reaching $169.05. 10,584,702 shares of the company's stock traded hands, compared to its average volume of 5,998,182. The stock's 50-day moving average is $144.28 and its 200 day moving average is $125.87. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The stock has a market cap of $183.98 billion, a P/E ratio of 20.20, a PEG ratio of 2.26 and a beta of 1.28. General Electric has a 52-week low of $88.57 and a 52-week high of $175.81.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.13. The firm had revenue of $19.42 billion during the quarter, compared to analysts' expectations of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 earnings per share. As a group, analysts anticipate that General Electric will post 4.57 EPS for the current year.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the firm's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares of the company's stock, valued at $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares of the company's stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by corporate insiders.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.