General Electric (NYSE:GE) Shares Acquired by AIA Group Ltd

AIA Group Ltd increased its position in General Electric (NYSE:GE) by 208.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,425 shares of the conglomerate’s stock after acquiring an additional 12,447 shares during the period. AIA Group Ltd’s holdings in General Electric were worth $3,234,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Halpern Financial Inc. lifted its stake in General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after buying an additional 184 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in General Electric in the 4th quarter valued at approximately $27,000. CGC Financial Services LLC lifted its stake in General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares in the last quarter. Capital Analysts LLC lifted its stake in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares in the last quarter. Finally, Bfsg LLC purchased a new stake in General Electric in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on 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 transaction, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.66% of the stock is currently owned by company insiders.

General Electric Price Performance

Shares of NYSE GE traded down $2.96 during mid-day trading on Friday, reaching $158.96. 5,982,334 shares of the company traded hands, compared to its average volume of 7,141,495. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $170.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The firm has a market cap of $174.00 billion, a PE ratio of 52.12, a price-to-earnings-growth ratio of 1.75 and a beta of 1.21. The stock has a fifty day simple moving average of $162.59 and a 200-day simple moving average of $153.80.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 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 business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the business earned $0.27 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts anticipate that General Electric will post 4.02 EPS for the current fiscal year.

General Electric Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GE. Jefferies Financial Group increased their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Vertical Research began coverage on General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 price target on the stock. The Goldman Sachs Group increased their price target on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Citigroup upped their price objective on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Bank of America upped their price objective on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $181.93.

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.