1,906 Shares in General Electric (NYSE:GE) Bought by Advisory Resource Group

Advisory Resource Group bought a new position in shares of General Electric (NYSE:GE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,906 shares of the conglomerate’s stock, valued at approximately $209,000.

A number of other hedge funds have also bought and sold shares of the company. FMR LLC increased its stake in General Electric by 5.7% in the first quarter. FMR LLC now owns 63,795,835 shares of the conglomerate’s stock valued at $6,098,882,000 after purchasing an additional 3,463,502 shares in the last quarter. State Street Corp increased its stake in General Electric by 17.3% in the first quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock valued at $4,639,533,000 after purchasing an additional 7,157,356 shares in the last quarter. TCI Fund Management Ltd. bought a new stake in General Electric in the first quarter valued at $2,496,379,000. Geode Capital Management LLC increased its stake in General Electric by 1.7% in the first quarter. Geode Capital Management LLC now owns 19,272,027 shares of the conglomerate’s stock valued at $1,837,514,000 after purchasing an additional 319,196 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC increased its stake in General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock valued at $878,644,000 after purchasing an additional 13,427,079 shares in the last quarter. Institutional investors own 74.83% of the company’s stock.

Insider Buying and Selling at General Electric

In related news, major shareholder General Electric Pension Trust bought 35,160 shares of the company’s stock in a transaction on Friday, June 30th. The shares were purchased at an average cost of $995.44 per share, for a total transaction of $34,999,670.40. Following the completion of the purchase, the insider now directly owns 175,160 shares in the company, valued at $174,361,270.40. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other General Electric news, major shareholder General Electric Pension Trust purchased 35,160 shares of the stock in a transaction dated Friday, June 30th. The shares were bought at an average price of $995.44 per share, with a total value of $34,999,670.40. Following the completion of the transaction, the insider now directly owns 175,160 shares in the company, valued at approximately $174,361,270.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 112,614 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $115.20, for a total transaction of $12,973,132.80. Following the completion of the sale, the senior vice president now directly owns 57,923 shares in the company, valued at approximately $6,672,729.60. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

General Electric Stock Up 0.9 %

General Electric stock opened at $116.56 on Tuesday. General Electric has a fifty-two week low of $48.06 and a fifty-two week high of $117.96. The stock has a market cap of $126.86 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 7.21 and a beta of 1.28. The firm’s 50-day simple moving average is $112.98 and its 200 day simple moving average is $104.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.25.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.22. The firm had revenue of $15.85 billion for the quarter, compared to analysts’ expectations of $14.76 billion. General Electric had a net margin of 13.32% and a return on equity of 9.30%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 earnings per share. Research analysts predict that General Electric will post 2.29 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Tuesday, September 26th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Monday, September 25th. General Electric’s payout ratio is 3.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of General Electric from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, July 17th. Barclays boosted their target price on shares of General Electric from $125.00 to $131.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 25th. Morgan Stanley boosted their target price on shares of General Electric from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 10th. Bank of America boosted their target price on shares of General Electric from $108.00 to $120.00 in a research report on Thursday, July 6th. Finally, Citigroup boosted their target price on shares of General Electric from $126.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

General Electric Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.