General Electric (NYSE:GE) Shares Sold by Buckley Wealth Management LLC

Buckley Wealth Management LLC reduced its position in General Electric (NYSE:GE) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,545 shares of the conglomerate’s stock after selling 190 shares during the quarter. Buckley Wealth Management LLC’s holdings in General Electric were worth $1,500,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Halpern Financial Inc. grew its holdings in 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 in the last quarter. Criterion Capital Advisors LLC purchased a new position in shares of General Electric during the 4th quarter worth $27,000. CGC Financial Services LLC grew its holdings in shares of General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 110 shares during the period. Capital Analysts LLC grew its holdings in shares of General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the period. Finally, Bfsg LLC purchased a new position in shares of General Electric during the 4th quarter worth $32,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Royal Bank of Canada increased their price target on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Bank of America increased their price target on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their price target on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $177.60.

General Electric Stock Down 1.1 %

GE stock traded down $1.69 during mid-day trading on Friday, reaching $158.81. The company had a trading volume of 1,895,863 shares, compared to its average volume of 7,293,740. 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 company has a market capitalization of $173.84 billion, a price-to-earnings ratio of 52.24, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23. The firm has a fifty day simple moving average of $161.99 and a 200 day simple moving average of $150.84. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $170.80.

General Electric (NYSE:GE) last posted its quarterly earnings results 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 return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the company earned $0.27 EPS. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts forecast that General Electric will post 3.99 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following 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 this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.