General Electric (NYSE:GE) Shares Bought by Mission Wealth Management LP

Mission Wealth Management LP raised its stake in General Electric (NYSE:GE) by 37.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,395 shares of the conglomerate’s stock after acquiring an additional 3,081 shares during the quarter. Mission Wealth Management LP’s holdings in General Electric were worth $2,000,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GE. Vanguard Group Inc. grew its position in shares of General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after purchasing an additional 550,996 shares during the period. Norges Bank acquired a new stake in General Electric during the fourth quarter worth about $1,193,159,000. Morgan Stanley increased its stake in General Electric by 5.1% during the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after acquiring an additional 434,736 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in General Electric by 6.9% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock worth $849,385,000 after acquiring an additional 426,794 shares during the last quarter. Finally, WCM Investment Management LLC increased its stake in General Electric by 42.5% during the first quarter. WCM Investment Management LLC now owns 5,778,771 shares of the conglomerate’s stock worth $1,014,348,000 after acquiring an additional 1,722,597 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on GE shares. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Barclays dropped their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Citigroup increased their target price on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company increased their target price on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, Vertical Research started coverage on General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price for the company. 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, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $181.93.

General Electric Price Performance

Shares of GE stock traded down $2.50 during mid-day trading on Friday, hitting $160.50. 4,668,292 shares of the stock traded hands, compared to its average volume of 5,518,849. General Electric has a twelve month low of $84.42 and a twelve month high of $170.80. The firm has a market cap of $175.68 billion, a price-to-earnings ratio of 52.63, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21. The company’s 50-day simple moving average is $162.59 and its 200-day simple moving average is $152.53. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that General Electric will post 4.02 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

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.