PFG Investments LLC Raises Position in General Electric (NYSE:GE)

PFG Investments LLC raised its holdings in General Electric (NYSE:GE - Free Report) by 440.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,680 shares of the conglomerate's stock after buying an additional 19,302 shares during the period. PFG Investments LLC's holdings in General Electric were worth $4,157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC purchased a new stake in shares of General Electric during the 3rd quarter worth $224,000. Summit Global Investments purchased a new stake in shares of General Electric during the 3rd quarter worth $218,000. RFG Advisory LLC lifted its position in shares of General Electric by 9.6% during the 3rd quarter. RFG Advisory LLC now owns 3,197 shares of the conglomerate's stock worth $353,000 after purchasing an additional 280 shares during the last quarter. DAVENPORT & Co LLC lifted its position in shares of General Electric by 6.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 26,440 shares of the conglomerate's stock worth $2,923,000 after purchasing an additional 1,706 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of General Electric by 25.8% during the 3rd quarter. Avior Wealth Management LLC now owns 3,872 shares of the conglomerate's stock worth $428,000 after purchasing an additional 794 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

General Electric Stock Performance

NYSE GE traded up $1.09 during trading on Friday, reaching $162.35. The company's stock had a trading volume of 5,898,021 shares, compared to its average volume of 9,321,559. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.17. The firm has a market cap of $177.71 billion, a price-to-earnings ratio of 53.23, a P/E/G ratio of 3.03 and a beta of 1.29. General Electric has a twelve month low of $77.28 and a twelve month high of $163.65. The business's fifty day moving average price is $160.72 and its 200-day moving average price is $136.27.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping 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 business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the previous year, the business posted $0.27 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that General Electric will post 3.95 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. This is a positive change from General Electric's previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. General Electric's payout ratio is 36.72%.

Insider Transactions at General Electric

In other news, SVP Michael J. Holston sold 13,601 shares of the business's stock in a transaction dated 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 directly owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the company's stock in a transaction dated 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 directly owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael J. Holston sold 22,055 shares of the company's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. Company insiders own 0.66% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GE shares. Citigroup lifted their price objective on shares of General Electric from $120.43 to $186.00 and gave the stock a "buy" rating in a research report on Thursday. StockNews.com started coverage on shares of General Electric in a research report on Sunday, April 21st. They issued a "hold" rating for the company. Vertical Research started coverage on shares of General Electric in a research report on Thursday, April 4th. They issued a "buy" rating and a $160.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $210.00 to $190.00 and set a "buy" rating for the company in a research report on Wednesday, April 3rd. Finally, Jefferies Financial Group reduced their price target on shares of General Electric from $195.00 to $180.00 and set a "buy" rating for the company in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, General Electric currently has an average rating of "Moderate Buy" and an average target price of $170.00.

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.

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