HighPoint Advisor Group LLC Takes Position in General Electric (NYSE:GE)

HighPoint Advisor Group LLC bought a new stake in General Electric (NYSE:GEFree Report) in the 4th quarter, Holdings Channel reports. The fund bought 33,129 shares of the conglomerate’s stock, valued at approximately $4,228,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Halpern Financial Inc. raised its holdings in General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 184 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in General Electric in the fourth quarter valued at $27,000. CGC Financial Services LLC raised its holdings in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 110 shares in the last quarter. Capital Analysts LLC raised its holdings in General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 87 shares in the last quarter. Finally, Bfsg LLC acquired a new stake in General Electric in the fourth quarter valued at $32,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Price Performance

GE traded up $0.17 on Tuesday, reaching $163.40. The company had a trading volume of 695,432 shares, compared to its average volume of 7,316,380. The company has a fifty day moving average of $160.97 and a 200-day moving average of $148.97. The company has a market capitalization of $178.86 billion, a P/E ratio of 53.52, a PEG ratio of 1.66 and a beta of 1.23. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. General Electric has a one year low of $82.11 and a one year high of $170.80.

General Electric (NYSE:GEGet Free Report) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the prior year, the firm posted $0.27 EPS. General Electric’s revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts anticipate that General Electric will post 3.99 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analysts Set New Price Targets

A number of analysts have weighed in on GE shares. Bank of America increased their target price on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. StockNews.com started coverage on shares of General Electric in a report on Monday, April 29th. They set a “hold” rating on the stock. Citigroup increased their target price on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. UBS Group increased their target price on shares of General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, The Goldman Sachs Group increased their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $177.27.

Check Out Our Latest Report on General Electric

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

General Electric Company Profile

(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.

Further Reading

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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