Burney Co. Has $555,000 Holdings in General Electric (NYSE:GE)

Burney Co. lifted its stake in shares of General Electric (NYSE:GE) by 64.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,163 shares of the conglomerate’s stock after purchasing an additional 1,234 shares during the period. Burney Co.’s holdings in General Electric were worth $555,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GE. Criterion Capital Advisors LLC acquired a new position in General Electric during the 4th quarter worth $27,000. Capital Analysts LLC lifted its stake in shares of General Electric by 55.8% during 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 during the period. Bfsg LLC bought a new position in General Electric in the fourth quarter valued at about $32,000. Kapitalo Investimentos Ltda acquired a new stake in General Electric in the fourth quarter worth about $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in General Electric in the first quarter worth about $34,000. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

Shares of General Electric stock traded down $9.47 during trading on Friday, hitting $160.28. 8,210,692 shares of the stock were exchanged, compared to its average volume of 6,157,757. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20. The stock has a market capitalization of $173.79 billion, a price-to-earnings ratio of 52.51, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. The company has a fifty day moving average price of $162.83 and a 200-day moving average price of $157.62. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities analysts predict that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.70%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Buying and Selling at General Electric

In related 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 transaction of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GE. Barclays raised their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. The Goldman Sachs Group increased their target price on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group boosted their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $185.71.

General Electric 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.