Csenge Advisory Group Purchases 1,821 Shares of General Electric (NYSE:GE)

Csenge Advisory Group increased its holdings in shares of General Electric (NYSE:GE) by 28.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,165 shares of the conglomerate’s stock after buying an additional 1,821 shares during the quarter. Csenge Advisory Group’s holdings in General Electric were worth $1,433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC raised its stake in shares of General Electric by 29.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after purchasing an additional 6,419 shares in the last quarter. Fifth Third Bancorp lifted its stake in General Electric by 12.5% in the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock valued at $33,335,000 after acquiring an additional 28,985 shares during the last quarter. USA Financial Formulas increased its stake in shares of General Electric by 24,042.9% during the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock worth $1,294,000 after purchasing an additional 10,098 shares during the last quarter. Grandfield & Dodd LLC lifted its stake in General Electric by 9.3% in the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after purchasing an additional 22,998 shares during the last quarter. Finally, Rathbones Group PLC grew its holdings in General Electric by 2.7% during the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock worth $28,821,000 after purchasing an additional 5,997 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. The Goldman Sachs Group raised their price objective on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Company increased their price target on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Argus increased their price target on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, StockNews.com started coverage on General Electric in a research note on Monday, April 29th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.93.

General Electric Price Performance

Shares of GE traded down $2.77 during trading hours on Thursday, hitting $162.93. 2,023,639 shares of the company were exchanged, compared to its average volume of 7,131,126. The company has a market cap of $178.34 billion, a price-to-earnings ratio of 53.70, a P/E/G ratio of 1.73 and a beta of 1.21. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $170.80. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average is $162.71 and its 200 day moving average is $153.52.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. The business 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%. General Electric’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. On average, equities analysts anticipate that General Electric will post 4.02 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be given a $0.28 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio is presently 36.72%.

Insider Buying and Selling 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 completion of the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at $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.