General Electric (NYSE:GE) Position Lifted by Grandfield & Dodd LLC

Grandfield & Dodd LLC increased its stake in shares of General Electric (NYSE:GE) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,598 shares of the conglomerate’s stock after purchasing an additional 5,815 shares during the quarter. General Electric makes up 3.1% of Grandfield & Dodd LLC’s holdings, making the stock its 5th largest position. Grandfield & Dodd LLC’s holdings in General Electric were worth $48,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Walker Asset Management LLC grew its stake in General Electric by 1.7% during the 1st quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after buying an additional 70 shares during the last quarter. BKM Wealth Management LLC increased its holdings in shares of General Electric by 2.6% during the first quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock valued at $495,000 after acquiring an additional 72 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in shares of General Electric by 1.7% in the 4th quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after purchasing an additional 74 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in General Electric by 1.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock worth $814,000 after purchasing an additional 75 shares in the last quarter. Finally, Schnieders Capital Management LLC grew its position in General Electric by 1.1% during the 1st quarter. Schnieders Capital Management LLC now owns 6,817 shares of the conglomerate’s stock worth $1,197,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GE shares. StockNews.com began coverage on General Electric in a research note on Monday, April 29th. They issued a “hold” rating for the company. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and raised their target price for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Barclays lowered their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. The Goldman Sachs Group upped their target price on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Vertical Research started coverage on shares of General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.93.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the firm’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 sale, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by corporate insiders.

General Electric Trading Down 2.4 %

NYSE:GE traded down $3.90 during trading hours on Thursday, reaching $161.80. 4,553,837 shares of the stock were exchanged, compared to its average volume of 7,150,291. General Electric has a twelve month low of $84.42 and a twelve month high of $170.80. The business has a 50-day moving average of $162.70 and a two-hundred day moving average of $153.58. The company has a market capitalization of $177.11 billion, a price-to-earnings ratio of 53.05, a PEG ratio of 1.73 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last released its earnings results 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. 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 during the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the previous year, the company posted $0.27 EPS. General Electric’s revenue was up 11.1% compared to the same quarter last year. On average, equities analysts predict that General Electric will post 4.02 EPS for the current year.

General Electric Announces Dividend

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

About General Electric

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.