Stonegate Investment Group LLC Has $5.81 Million Stock Holdings in General Electric (NYSE:GE)

Stonegate Investment Group LLC lessened its stake in shares of General Electric (NYSE:GE) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,120 shares of the conglomerate’s stock after selling 688 shares during the quarter. Stonegate Investment Group LLC’s holdings in General Electric were worth $5,814,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in GE. Walker Asset Management LLC increased its position in shares of General Electric by 1.7% in the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock valued at $722,000 after acquiring an additional 70 shares during the period. BKM Wealth Management LLC increased its holdings in General Electric by 2.6% during the 1st quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock valued at $495,000 after purchasing an additional 72 shares during the period. Great Valley Advisor Group Inc. raised its position 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 purchasing an additional 74 shares during the last quarter. Checchi Capital Advisers LLC raised its position in General Electric by 1.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock valued at $814,000 after purchasing an additional 75 shares during the last quarter. Finally, Forte Capital LLC ADV lifted its holdings in General Electric by 2.1% in the 4th quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock worth $519,000 after buying an additional 83 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on GE. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and upped their target price for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Jefferies Financial Group upped 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. Citigroup raised their target price on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Argus boosted their price target on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company raised their price objective on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $172.29.

General Electric Stock Down 1.7 %

Shares of NYSE GE traded down $2.74 during trading on Tuesday, reaching $161.75. The company had a trading volume of 6,722,311 shares, compared to its average volume of 8,063,052. The business’s 50-day moving average is $161.29 and its 200 day moving average is $137.17. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The stock has a market cap of $177.05 billion, a PE ratio of 53.03, a P/E/G ratio of 2.90 and a beta of 1.29. General Electric has a 12-month low of $77.93 and a 12-month high of $166.26.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. As a group, equities analysts forecast that General Electric will post 3.93 earnings per share for the current fiscal year.

General Electric Increases Dividend

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

About General Electric

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.