Lake Street Advisors Group LLC Has $1.11 Million Stock Holdings in General Electric (NYSE:GE)

Lake Street Advisors Group LLC raised its stake in General Electric (NYSE:GE) by 72.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 6,300 shares of the conglomerate’s stock after buying an additional 2,640 shares during the quarter. Lake Street Advisors Group LLC’s holdings in General Electric were worth $1,106,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Halpern Financial Inc. grew its stake in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after buying an additional 184 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in General Electric in the fourth quarter valued at approximately $27,000. Capital Analysts LLC raised its position in 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 purchasing an additional 87 shares in the last quarter. Bfsg LLC bought a new stake in General Electric during the fourth quarter worth $32,000. Finally, Kapitalo Investimentos Ltda bought a new stake in General Electric during the fourth quarter worth $32,000. 74.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GE shares. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. JPMorgan Chase & Co. increased their target price on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Barclays reduced their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Royal Bank of Canada increased their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and raised their target price for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.93.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by insiders.

General Electric Trading Down 5.6 %

Shares of NYSE GE traded down $9.70 during trading on Wednesday, reaching $162.30. The company had a trading volume of 7,323,617 shares, compared to its average volume of 7,153,121. The stock has a market cap of $177.66 billion, a P/E ratio of 53.21, a PEG ratio of 1.72 and a beta of 1.21. The company’s fifty day moving average price is $162.08 and its 200-day moving average price is $155.95. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, research analysts expect that General Electric will post 4.02 earnings per share for the current year.

General Electric Announces Dividend

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

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.