FCG Investment Co Acquires 5,463 Shares of General Electric (NYSE:GE)

FCG Investment Co lifted its holdings in shares of General Electric (NYSE:GE) by 193.9% during the first quarter, HoldingsChannel reports. The firm owned 8,280 shares of the conglomerate’s stock after purchasing an additional 5,463 shares during the quarter. General Electric accounts for about 1.2% of FCG Investment Co’s investment portfolio, making the stock its 23rd biggest holding. FCG Investment Co’s holdings in General Electric were worth $1,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. Norges Bank purchased a new stake in General Electric in the fourth quarter worth $1,193,159,000. WCM Investment Management LLC purchased a new stake in General Electric in the 4th quarter worth about $520,488,000. Lone Pine Capital LLC bought a new stake in General Electric in the 4th quarter valued at about $268,519,000. Brown Advisory Inc. lifted its holdings in General Electric by 62.3% during the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock valued at $623,058,000 after purchasing an additional 1,873,327 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in General Electric by 11,947.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock worth $201,218,000 after purchasing an additional 1,563,484 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

GE traded up $1.55 during midday trading on Thursday, hitting $163.00. The stock had a trading volume of 2,577,254 shares, compared to its average volume of 5,797,346. General Electric has a 1 year low of $84.42 and a 1 year high of $170.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The business has a fifty day moving average of $162.59 and a 200 day moving average of $152.20. The company has a market cap of $178.42 billion, a P/E ratio of 53.44, a price-to-earnings-growth ratio of 1.71 and a beta of 1.21.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating 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 company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the company earned $0.27 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts forecast that General Electric will post 4 earnings per share 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. Stockholders of record on Thursday, July 11th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio is 36.72%.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 45,309 shares of the 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 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 is accessible through the SEC website. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GE has been the topic of several research reports. UBS Group boosted their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com started coverage on shares of General Electric in a research report on Monday, April 29th. They set a “hold” rating for the company. 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 research report on Wednesday, April 24th. Barclays dropped their price objective 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. Finally, Jefferies Financial Group upped their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $181.93.

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.