General Electric (NYSE:GE) Stake Increased by Flputnam Investment Management Co.

Flputnam Investment Management Co. raised its stake in shares of General Electric (NYSE:GE) by 8.3% during the fourth quarter, HoldingsChannel reports. The fund owned 10,489 shares of the conglomerate’s stock after acquiring an additional 801 shares during the quarter. Flputnam Investment Management Co.’s holdings in General Electric were worth $1,339,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in General Electric by 10.0% in the first quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate’s stock worth $27,925,000 after purchasing an additional 27,682 shares in the last quarter. Prudential PLC acquired a new position in shares of General Electric in the 1st quarter worth approximately $1,518,000. Sequoia Financial Advisors LLC increased its holdings in shares of General Electric by 2.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate’s stock valued at $1,075,000 after acquiring an additional 334 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of General Electric during the 1st quarter valued at approximately $388,000. Finally, West Family Investments Inc. acquired a new position in shares of General Electric in the 1st quarter valued at about $230,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

General Electric Price Performance

NYSE:GE opened at $156.76 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average price is $158.53 and its 200 day moving average price is $133.81. General Electric has a 52-week low of $76.38 and a 52-week high of $158.68. The firm has a market cap of $171.38 billion, a P/E ratio of 18.73, a PEG ratio of 3.01 and a beta of 1.29.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The company had revenue of $19.42 billion for the quarter, compared to analysts’ expectations of $17.27 billion. During the same quarter in the prior year, the company earned $1.24 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. As a group, sell-side analysts predict that General Electric will post 3.78 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.71%. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. General Electric’s dividend payout ratio is currently 13.38%.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent research reports. Wells Fargo & Company lowered their target price on General Electric from $200.00 to $165.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. TheStreet raised General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. The Goldman Sachs Group started coverage on shares of General Electric in a report on Tuesday, April 9th. They set a “buy” rating and a $190.00 price target for the company. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Finally, Bank of America reduced their target price on shares of General Electric from $175.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $160.07.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.