General Electric (NYSE:GE) Shares Sold by Osaic Holdings Inc.

Osaic Holdings Inc. lessened its holdings in shares of General Electric (NYSE:GE) by 18.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 269,552 shares of the conglomerate’s stock after selling 59,750 shares during the quarter. Osaic Holdings Inc.’s holdings in General Electric were worth $47,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Choate Investment Advisors lifted its position in shares of General Electric by 0.4% in the first quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock worth $2,808,000 after buying an additional 65 shares during the last quarter. Walker Asset Management LLC boosted its holdings in shares of General Electric by 1.7% during the 1st quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after buying an additional 70 shares during the period. BKM Wealth Management LLC grew its stake in General Electric by 2.6% in the 1st quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock valued at $495,000 after buying an additional 72 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in General Electric by 1.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,777 shares of the conglomerate’s stock worth $663,000 after acquiring an additional 72 shares during the last quarter. Finally, Great Valley Advisor Group Inc. boosted its holdings in General Electric by 1.7% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after acquiring an additional 74 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now 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 can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GE. StockNews.com started coverage on General Electric in a research report on Monday, April 29th. They set a “hold” rating for the company. Royal Bank of Canada raised their price target on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Jefferies Financial Group lifted their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, The Goldman Sachs Group lifted their price target on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.93.

General Electric Stock Up 2.2 %

NYSE GE traded up $3.50 on Monday, reaching $162.63. The company had a trading volume of 3,991,815 shares, compared to its average volume of 7,068,157. The company’s fifty day moving average is $161.80 and its 200-day moving average is $155.32. The firm has a market capitalization of $178.02 billion, a price-to-earnings ratio of 53.00, a price-to-earnings-growth ratio of 1.68 and a beta of 1.21. 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 has a 1-year low of $84.42 and a 1-year high of $170.80.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the prior year, the firm earned $0.27 earnings per share. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts forecast that General Electric will post 4.02 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. General Electric’s dividend payout ratio is currently 36.72%.

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.