Brighton Jones LLC Has $974,000 Stock Position in General Electric (NYSE:GE)

Brighton Jones LLC cut its holdings in shares of General Electric (NYSE:GE) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,630 shares of the conglomerate’s stock after selling 411 shares during the quarter. Brighton Jones LLC’s holdings in General Electric were worth $974,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GE. Mission Wealth Management LP grew its stake in shares of General Electric by 5.9% during the fourth quarter. Mission Wealth Management LP now owns 8,314 shares of the conglomerate’s stock worth $1,061,000 after purchasing an additional 463 shares during the period. Pekin Hardy Strauss Inc. acquired a new position in shares of General Electric during the 4th quarter worth about $218,000. Penobscot Investment Management Company Inc. increased its stake in shares of General Electric by 15.3% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 3,106 shares of the conglomerate’s stock valued at $396,000 after acquiring an additional 412 shares during the last quarter. Ledyard National Bank acquired a new stake in shares of General Electric in the 4th quarter valued at approximately $319,000. Finally, Naviter Wealth LLC boosted its stake in General Electric by 14.9% during the 4th quarter. Naviter Wealth LLC now owns 9,872 shares of the conglomerate’s stock worth $1,261,000 after acquiring an additional 1,280 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GE shares. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Vertical Research initiated coverage on General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price for the company. Barclays dropped 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. Bank of America increased their target price on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $172.29.

General Electric Stock Performance

Shares of NYSE GE opened at $159.70 on Thursday. The stock has a market capitalization of $174.81 billion, a PE ratio of 52.36, a price-to-earnings-growth ratio of 2.88 and a beta of 1.25. General Electric has a 52 week low of $77.93 and a 52 week high of $166.26. The stock has a 50 day moving average price of $161.50 and a 200 day moving average price of $137.33. 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 (NYSE:GE) last announced its quarterly earnings data 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 net margin of 5.05% and a return on equity of 12.54%. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter last year, the firm posted $0.27 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Analysts predict that General Electric will post 3.95 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a dividend of $0.28 per share. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. General Electric’s payout ratio is presently 36.72%.

Insider Activity at General Electric

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

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.