Capital Investment Counsel Inc Increases Position in General Electric (NYSE:GE)

Capital Investment Counsel Inc lifted its holdings in shares of General Electric (NYSE:GE) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,031 shares of the conglomerate’s stock after buying an additional 88 shares during the period. Capital Investment Counsel Inc’s holdings in General Electric were worth $514,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Halpern Financial Inc. grew its holdings in General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the period. Criterion Capital Advisors LLC bought a new position in shares of General Electric during the fourth quarter valued at $27,000. CGC Financial Services LLC grew its holdings in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 110 shares during the period. Capital Analysts LLC lifted 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. Finally, Bfsg LLC purchased a new position in shares of General Electric in the fourth quarter worth about $32,000. Institutional investors own 74.77% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

GE has been the topic of several analyst reports. Bank of America upped their target price on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group upped their price objective on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. lowered their price target on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, 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. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $170.00.

General Electric Stock Performance

NYSE GE traded up $3.08 on Monday, reaching $165.43. 1,679,991 shares of the stock were exchanged, compared to its average volume of 8,029,482. The firm has a market capitalization of $181.08 billion, a PE ratio of 53.23, a PEG ratio of 2.90 and a beta of 1.29. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. General Electric has a one year low of $77.93 and a one year high of $165.98. The company’s 50-day simple moving average is $160.72 and its two-hundred day simple moving average is $136.43.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter last year, the company earned $0.27 EPS. The business’s revenue was up 11.1% on a year-over-year basis. Analysts expect that General Electric will post 3.93 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were paid a $0.28 dividend. The ex-dividend date was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 36.72%.

General Electric Company 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.