General Electric (NYSE:GE) Shares Bought by Baxter Bros Inc.

Baxter Bros Inc. lifted its stake in shares of General Electric (NYSE:GE) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,113 shares of the conglomerate’s stock after purchasing an additional 2,289 shares during the quarter. Baxter Bros Inc.’s holdings in General Electric were worth $5,630,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Dakota Wealth Management grew its holdings in General Electric by 163.4% during the third quarter. Dakota Wealth Management now owns 5,577 shares of the conglomerate’s stock worth $617,000 after acquiring an additional 3,460 shares during the period. Raymond James & Associates raised its stake in General Electric by 7.0% during the 3rd quarter. Raymond James & Associates now owns 595,259 shares of the conglomerate’s stock valued at $65,806,000 after purchasing an additional 39,046 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of General Electric by 7.6% in the third quarter. Stratos Wealth Partners LTD. now owns 15,613 shares of the conglomerate’s stock valued at $1,726,000 after purchasing an additional 1,101 shares in the last quarter. Stratos Wealth Advisors LLC boosted its position in shares of General Electric by 35.7% in the third quarter. Stratos Wealth Advisors LLC now owns 4,342 shares of the conglomerate’s stock worth $480,000 after buying an additional 1,143 shares during the period. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of General Electric by 13.6% during the third quarter. J.W. Cole Advisors Inc. now owns 11,095 shares of the conglomerate’s stock valued at $1,227,000 after buying an additional 1,330 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Vertical Research started coverage on General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective for the company. StockNews.com started coverage on shares of General Electric in a research report on Monday, April 29th. They set a “hold” rating on the stock. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. The Goldman Sachs Group boosted their price target 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. Finally, Royal Bank of Canada increased their price objective on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.29.

Insider Activity

In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of General Electric stock traded up $1.47 on Friday, hitting $164.11. 3,968,626 shares of the company’s stock were exchanged, compared to its average volume of 7,987,890. The company has a 50-day simple moving average of $161.93 and a 200-day simple moving average of $137.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a 1 year low of $77.93 and a 1 year high of $166.26. The stock has a market capitalization of $179.64 billion, a PE ratio of 53.81, a PEG ratio of 2.92 and a beta of 1.25.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, equities analysts anticipate that General Electric will post 3.96 EPS for the current year.

General Electric Increases Dividend

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