GSA Capital Partners LLP Grows Stock Holdings in General Electric (NYSE:GE)

GSA Capital Partners LLP raised its stake in General Electric (NYSE:GE) by 186.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,082 shares of the conglomerate’s stock after buying an additional 3,960 shares during the period. GSA Capital Partners LLP’s holdings in General Electric were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in GE. Norges Bank purchased a new stake in General Electric in the 4th quarter valued at about $1,193,159,000. WCM Investment Management LLC bought a new stake in shares of General Electric in the 4th quarter valued at about $520,488,000. Lone Pine Capital LLC bought a new stake in shares of General Electric in the 4th quarter valued at about $268,519,000. Brown Advisory Inc. raised its holdings in shares of General Electric by 62.3% in the 4th quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock valued at $623,058,000 after purchasing an additional 1,873,327 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of General Electric by 11,947.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock valued at $201,218,000 after purchasing an additional 1,563,484 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of GE stock traded up $2.39 during trading hours on Wednesday, hitting $165.52. The company’s stock had a trading volume of 1,255,503 shares, compared to its average volume of 7,149,892. The company has a 50 day moving average of $162.59 and a 200 day moving average of $153.44. The stock has a market cap of $181.18 billion, a PE ratio of 53.90, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. General Electric has a 12-month low of $84.42 and a 12-month high of $170.80.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The business 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 firm earned $0.27 EPS. On average, sell-side analysts forecast that General Electric will post 4.02 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GE shares. Jefferies Financial Group boosted their price target 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. JPMorgan Chase & Co. boosted their price target on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Wells Fargo & Company boosted their price objective on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $181.93.

General Electric 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.