Advisory Services Network LLC Has $4.74 Million Holdings in General Electric (NYSE:GE)

Advisory Services Network LLC increased its holdings in shares of General Electric (NYSE:GE) by 36.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,172 shares of the conglomerate’s stock after buying an additional 9,994 shares during the quarter. Advisory Services Network LLC’s holdings in General Electric were worth $4,744,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Halpern Financial Inc. raised its stake in shares of General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 184 shares during the period. Criterion Capital Advisors LLC acquired a new stake in shares of General Electric in the 4th quarter valued at about $27,000. CGC Financial Services LLC raised its stake in shares of General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 110 shares during the period. Capital Analysts LLC raised its stake in shares of General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares during the period. Finally, Bfsg LLC acquired a new stake in shares of General Electric in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity

In other news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the sale, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GE. Jefferies Financial Group raised their price objective on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. UBS Group raised their price objective on General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a report on Thursday. Bank of America raised their price objective on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and raised their price objective for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $176.00.

General Electric Stock Performance

Shares of NYSE:GE traded up $2.07 during trading on Friday, reaching $167.33. 5,500,252 shares of the stock were exchanged, compared to its average volume of 5,534,409. General Electric has a 12 month low of $79.76 and a 12 month high of $170.80. The firm has a market cap of $183.16 billion, a PE ratio of 54.86, a PEG ratio of 1.85 and a beta of 1.25. The stock has a 50-day moving average price of $162.36 and a 200-day moving average price of $143.82. 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 (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. Research analysts expect that General Electric will post 3.98 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s 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.