Jacobi Capital Management LLC Sells 198 Shares of General Electric (NYSE:GE)

Jacobi Capital Management LLC lowered its stake in General Electric (NYSE:GE) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,973 shares of the conglomerate’s stock after selling 198 shares during the quarter. Jacobi Capital Management LLC’s holdings in General Electric were worth $1,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC raised its holdings in General Electric by 29.3% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after buying an additional 6,419 shares during the last quarter. Fifth Third Bancorp increased its position in General Electric by 12.5% during the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock valued at $33,335,000 after purchasing an additional 28,985 shares during the period. USA Financial Formulas increased its position in General Electric by 24,042.9% during the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock valued at $1,294,000 after purchasing an additional 10,098 shares during the period. Grandfield & Dodd LLC increased its position in General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after purchasing an additional 22,998 shares during the period. Finally, Rathbones Group PLC increased its position in General Electric by 2.7% during the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after purchasing an additional 5,997 shares during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. The Goldman Sachs Group raised their price objective 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. StockNews.com began coverage on shares of General Electric in a research report on Monday, April 29th. They set a “hold” rating for the company. UBS Group raised their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Finally, TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and raised their price objective for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.93.

Insider Buying and Selling at General Electric

In other 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 transaction of $7,377,211.38. Following the sale, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

General Electric Stock Up 2.3 %

NYSE:GE traded up $3.62 during trading hours on Monday, hitting $162.75. 6,347,681 shares of the company traded hands, compared to its average volume of 7,085,089. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm’s 50-day simple moving average is $161.80 and its 200-day simple moving average is $155.32. General Electric has a one year low of $84.42 and a one year high of $170.80. The company has a market cap of $178.15 billion, a PE ratio of 53.00, a PEG ratio of 1.68 and a beta of 1.21.

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

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 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.