Chapin Davis Inc. Grows Stock Position in General Electric (NYSE:GE)

Chapin Davis Inc. boosted its position in shares of General Electric (NYSE:GE) by 43.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,340 shares of the conglomerate’s stock after acquiring an additional 9,496 shares during the quarter. General Electric accounts for 1.7% of Chapin Davis Inc.’s portfolio, making the stock its 10th biggest holding. Chapin Davis Inc.’s holdings in General Electric were worth $4,982,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Criterion Capital Advisors LLC purchased a new position in shares of General Electric in the fourth quarter worth $27,000. Capital Analysts LLC grew its position in shares of 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 shares of General Electric in the fourth quarter worth about $32,000. Kapitalo Investimentos Ltda bought a new stake in shares of General Electric in the fourth quarter worth about $32,000. Finally, Richardson Financial Services Inc. bought a new position in General Electric during the first quarter valued at approximately $34,000. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Jefferies Financial Group lifted their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Argus lifted their price target on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company lifted their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $190.38.

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 transaction, the senior vice president now owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by insiders.

General Electric Price Performance

NYSE GE traded down $0.52 during trading hours on Friday, reaching $169.42. The company’s stock had a trading volume of 3,305,648 shares, compared to its average volume of 6,935,916. The firm has a market capitalization of $185.45 billion, a price-to-earnings ratio of 55.55, a P/E/G ratio of 1.70 and a beta of 1.21. The company’s 50-day moving average is $163.24 and its two-hundred day moving average is $160.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the prior year, the company posted $0.68 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that General Electric will post 4.15 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. 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.