Moloney Securities Asset Management LLC Purchases New Stake in General Electric (NYSE:GE)

Moloney Securities Asset Management LLC purchased a new stake in General Electric (NYSE:GEFree Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,364 shares of the conglomerate’s stock, valued at approximately $239,000.

A number of other large investors have also added to or reduced their stakes in GE. Vanguard Group Inc. increased its position in General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares during the period. Norges Bank bought a new position in General Electric during the 4th quarter worth $1,193,159,000. Morgan Stanley increased its position in General Electric by 5.1% during the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after buying an additional 434,736 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in General Electric by 6.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock worth $849,385,000 after buying an additional 426,794 shares during the period. Finally, WCM Investment Management LLC increased its position in General Electric by 42.5% during the 1st quarter. WCM Investment Management LLC now owns 5,778,771 shares of the conglomerate’s stock worth $1,014,348,000 after buying an additional 1,722,597 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 1.5 %

NYSE GE opened at $160.50 on Monday. General Electric has a twelve month low of $84.42 and a twelve month high of $170.80. The business’s fifty day moving average is $162.59 and its 200 day moving average is $152.92. 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 company has a market cap of $175.68 billion, a price-to-earnings ratio of 52.62, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GEGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 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 firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period last year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts expect that General Electric will post 4.02 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GE. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and increased their price objective for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. StockNews.com assumed coverage on General Electric in a research note on Monday, April 29th. They issued a “hold” rating for the company. Citigroup upped their price objective on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Vertical Research started coverage on shares of General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, The Goldman Sachs Group upped their price target on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.93.

View Our Latest Stock Analysis on GE

Insider Activity

In other news, SVP Russell Stokes sold 45,309 shares of General Electric 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 directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

About General Electric

(Free Report)

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.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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