Atlantic Union Bankshares Corp Takes $255,000 Position in General Electric (NYSE:GE)

Atlantic Union Bankshares Corp purchased a new position in General Electric (NYSE:GE) in the first quarter, Holdings Channel reports. The fund purchased 1,452 shares of the conglomerate’s stock, valued at approximately $255,000.

A number of other hedge funds also recently bought and sold shares of the business. Capital Asset Advisory Services LLC increased its stake in shares of General Electric by 8.3% during the first quarter. Capital Asset Advisory Services LLC now owns 2,291 shares of the conglomerate’s stock worth $402,000 after purchasing an additional 175 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in General Electric by 27.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,930 shares of the conglomerate’s stock worth $865,000 after buying an additional 1,049 shares in the last quarter. Courage Miller Partners LLC purchased a new position in shares of General Electric in the first quarter valued at approximately $383,000. 180 Wealth Advisors LLC lifted its position in shares of General Electric by 2.2% in the first quarter. 180 Wealth Advisors LLC now owns 7,132 shares of the conglomerate’s stock valued at $1,252,000 after acquiring an additional 155 shares in the last quarter. Finally, Investment Partners LTD. purchased a new stake in shares of General Electric during the first quarter worth approximately $257,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.9 %

Shares of NYSE:GE traded down $1.49 during trading on Friday, hitting $159.01. The company’s stock had a trading volume of 8,640,715 shares, compared to its average volume of 7,348,133. The company has a market capitalization of $174.05 billion, a PE ratio of 52.13, a P/E/G ratio of 1.71 and a beta of 1.23. 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 fifty-two week low of $84.42 and a fifty-two week high of $170.80. The business has a 50 day moving average price of $162.36 and a two-hundred day moving average price of $151.17.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 EPS. As a group, research analysts expect that General Electric will post 3.99 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a $0.28 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.70%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction on 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 in the company, valued at $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on GE shares. Royal Bank of Canada raised their price objective on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Wells Fargo & Company upped their price objective on shares of General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Bank of America increased their price objective on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday. Finally, Citigroup lifted their price objective on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $177.60.

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.