General Electric (NYSE:GE) Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC lowered its holdings in General Electric (NYSE:GE) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,771 shares of the conglomerate’s stock after selling 84 shares during the period. General Electric makes up 1.1% of Oliver Luxxe Assets LLC’s portfolio, making the stock its 28th biggest position. Oliver Luxxe Assets LLC’s holdings in General Electric were worth $5,226,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Prime Capital Investment Advisors LLC boosted its stake in General Electric by 29.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after acquiring an additional 6,419 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of General Electric by 12.5% in the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after buying an additional 28,985 shares during the last quarter. USA Financial Formulas lifted its position in shares of General Electric by 24,042.9% in the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock worth $1,294,000 after buying an additional 10,098 shares during the last quarter. Grandfield & Dodd LLC lifted its position in shares of General Electric by 9.3% in the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock worth $34,432,000 after buying an additional 22,998 shares during the last quarter. Finally, Rathbones Group PLC lifted its position in shares of General Electric by 2.7% in the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock worth $28,821,000 after buying an additional 5,997 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of General Electric stock traded down $0.81 on Monday, reaching $158.16. The stock had a trading volume of 2,365,190 shares, compared to its average volume of 7,308,273. The business’s 50-day moving average price is $162.36 and its two-hundred day moving average price is $151.59. 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 stock has a market cap of $173.12 billion, a P/E ratio of 51.20, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. On average, sell-side analysts forecast that General Electric will post 4 EPS for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.71%. The ex-dividend date 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 company’s stock in a transaction dated 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 sale, 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 legal filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays dropped their price objective on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Wells Fargo & Company raised their target price 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. Citigroup raised their price objective on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Finally, Royal Bank of Canada raised their target price on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus 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.