Keel Point LLC Boosts Stock Position in General Electric (NYSE:GE)

Keel Point LLC grew its position in General Electric (NYSE:GE) by 9.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,810 shares of the conglomerate’s stock after buying an additional 239 shares during the period. Keel Point LLC’s holdings in General Electric were worth $359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GE. Sei Investments Co. increased its position in General Electric by 10.0% during the 1st quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate’s stock valued at $27,925,000 after buying an additional 27,682 shares in the last quarter. Prudential PLC acquired a new stake in General Electric in the 1st quarter worth approximately $1,518,000. Sequoia Financial Advisors LLC grew its position in General Electric by 2.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate’s stock worth $1,075,000 after purchasing an additional 334 shares during the last quarter. Merit Financial Group LLC acquired a new position in General Electric during the 1st quarter valued at approximately $388,000. Finally, West Family Investments Inc. purchased a new position in shares of General Electric in the first quarter worth $230,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GE. Vertical Research began coverage on shares of General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective on the stock. StockNews.com initiated coverage on General Electric in a report on Saturday. They issued a “hold” rating on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. The Goldman Sachs Group assumed coverage on shares of General Electric in a report on Tuesday, April 9th. They issued a “buy” rating and a $190.00 price target on the stock. Finally, TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and lifted their price objective for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $160.07.

General Electric Trading Up 2.0 %

Shares of General Electric stock opened at $156.76 on Wednesday. General Electric has a fifty-two week low of $76.38 and a fifty-two week high of $158.68. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The firm has a market capitalization of $171.38 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 3.01 and a beta of 1.29. The stock has a 50 day moving average of $158.53 and a 200 day moving average of $133.81.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share. As a group, research analysts predict that General Electric will post 3.78 earnings per share for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.71%. General Electric’s payout ratio is currently 13.38%.

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.