Massachusetts Wealth Management Has $2.40 Million Stock Holdings in General Electric (NYSE:GE)

Massachusetts Wealth Management grew its position in shares of General Electric (NYSE:GE) by 8.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,644 shares of the conglomerate’s stock after acquiring an additional 1,117 shares during the quarter. General Electric accounts for 1.7% of Massachusetts Wealth Management’s holdings, making the stock its 16th biggest position. Massachusetts Wealth Management’s holdings in General Electric were worth $2,395,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Halpern Financial Inc. boosted its holdings 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 buying an additional 184 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in General Electric in the 4th quarter valued at $27,000. CGC Financial Services LLC raised its stake in 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 acquiring an additional 110 shares during the period. Capital Analysts LLC raised its stake in 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 acquiring an additional 87 shares during the period. Finally, Bfsg LLC bought a new stake in General Electric in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 1.0 %

GE stock traded up $1.55 during mid-day trading on Thursday, reaching $163.00. The company’s stock had a trading volume of 2,577,254 shares, compared to its average volume of 5,797,346. The company has a market cap of $178.42 billion, a price-to-earnings ratio of 53.46, a price-to-earnings-growth ratio of 1.71 and a beta of 1.21. The business’s 50 day moving average price is $162.51 and its 200 day moving average price is $152.12. 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 has a 12 month low of $84.42 and a 12 month high of $170.80.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. On average, equities research analysts predict that General Electric will post 4 EPS for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. General Electric’s dividend 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 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 owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GE. StockNews.com began coverage on General Electric in a report on Monday, April 29th. They set a “hold” rating on the stock. Jefferies Financial Group increased their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. The Goldman Sachs Group increased their target price on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their target price on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Finally, Vertical Research began coverage on General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.93.

General Electric Company 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.