Mount Yale Investment Advisors LLC Invests $299,000 in General Electric (NYSE:GE)

Mount Yale Investment Advisors LLC acquired a new position in General Electric (NYSE:GE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,702 shares of the conglomerate’s stock, valued at approximately $299,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares during the last quarter. Capital International Investors raised its stake in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Capital World Investors raised its stake in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Norges Bank purchased a new position in shares of General Electric during the 4th quarter valued at about $1,193,159,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity

In other news, SVP Russell Stokes sold 45,309 shares of the 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 sale, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of General Electric stock traded up $0.06 on Monday, hitting $169.87. 4,884,467 shares of the company were exchanged, compared to its average volume of 7,149,787. The stock has a market capitalization of $184.19 billion, a price-to-earnings ratio of 55.70, a price-to-earnings-growth ratio of 1.71 and a beta of 1.22. The company has a 50-day moving average price of $162.35 and a 200 day moving average price of $156.68. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The firm 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 16.07% and a net margin of 7.66%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, sell-side analysts predict that General Electric will post 4.13 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GE. Argus lifted their price objective on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group lifted their price target on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Barclays cut 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. Bank of America lifted their price target on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group lifted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.93.

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.