General Electric (NYSE:GE) Shares Acquired by US Bancorp DE

US Bancorp DE grew its holdings in General Electric (NYSE:GE) by 4.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 308,716 shares of the conglomerate’s stock after acquiring an additional 13,681 shares during the quarter. US Bancorp DE’s holdings in General Electric were worth $39,401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GE. Halpern Financial Inc. raised its stake 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 in the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of General Electric during the fourth quarter worth about $27,000. CGC Financial Services LLC lifted its holdings 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 last quarter. Capital Analysts LLC boosted its position 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 purchased a new position in General Electric during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE traded up $2.07 during midday trading on Friday, hitting $167.33. 5,500,252 shares of the stock were exchanged, compared to its average volume of 5,534,409. The stock has a market cap of $183.16 billion, a P/E ratio of 54.86, a PEG ratio of 1.82 and a beta of 1.25. General Electric has a twelve month low of $79.76 and a twelve month high of $170.80. The company has a 50 day moving average price of $162.36 and a 200-day moving average price of $143.60. 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 posted 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 return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter last year, the business posted $0.27 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts forecast that General Electric will post 3.98 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were paid a $0.28 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s payout ratio is presently 36.72%.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GE. Jefferies Financial Group lifted their price objective on shares of General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, April 29th. StockNews.com started coverage on General Electric in a research note on Monday, April 29th. They set a “hold” rating for the company. Citigroup boosted their target price on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 25th. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and increased their price target for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Finally, UBS Group lifted their price objective on shares of General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.00.

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.