Liberty Wealth Management LLC Purchases New Position in General Electric (NYSE:GE)

Liberty Wealth Management LLC purchased a new stake in shares of General Electric (NYSE:GE) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,361 shares of the conglomerate’s stock, valued at approximately $239,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of General Electric in the fourth quarter worth about $1,193,159,000. WCM Investment Management LLC bought a new position in shares of General Electric in the fourth quarter worth about $520,488,000. Lone Pine Capital LLC bought a new position in shares of General Electric in the fourth quarter worth about $268,519,000. Brown Advisory Inc. raised its stake in shares of General Electric by 62.3% in the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock worth $623,058,000 after acquiring an additional 1,873,327 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of General Electric by 11,947.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock worth $201,218,000 after buying an additional 1,563,484 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on GE. Citigroup boosted their price target on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and boosted their price target for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price target on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Royal Bank of Canada boosted their price objective on shares of General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group boosted their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.93.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Performance

NYSE GE traded down $0.40 on Tuesday, hitting $163.13. 3,667,434 shares of the stock were exchanged, compared to its average volume of 7,195,223. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The business’s fifty day moving average is $162.59 and its 200 day moving average is $153.44. General Electric has a 52 week low of $84.42 and a 52 week high of $170.80. The company has a market capitalization of $178.56 billion, a PE ratio of 53.49, a P/E/G ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. Research analysts anticipate that General Electric will post 4.02 EPS for the current fiscal year.

General Electric Announces Dividend

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

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.