Morse Asset Management Inc Has $2.67 Million Position in General Electric (NYSE:GE)

Morse Asset Management Inc increased its stake in shares of General Electric (NYSE:GE) by 27.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,184 shares of the conglomerate’s stock after purchasing an additional 3,280 shares during the quarter. Morse Asset Management Inc’s holdings in General Electric were worth $2,665,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Halpern Financial Inc. increased its position in General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 184 shares during the period. Criterion Capital Advisors LLC acquired a new position in General Electric in the 4th quarter valued at approximately $27,000. Capital Analysts LLC increased its position in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 87 shares during the period. Bfsg LLC acquired a new position in General Electric in the 4th quarter valued at approximately $32,000. Finally, Kapitalo Investimentos Ltda acquired a new position in General Electric in the 4th quarter valued at approximately $32,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

General Electric Stock Up 3.1 %

Shares of General Electric stock traded up $5.14 during trading hours on Friday, reaching $169.81. The company’s stock had a trading volume of 7,297,730 shares, compared to its average volume of 5,743,017. General Electric has a one year low of $84.42 and a one year high of $177.20. The company has a market capitalization of $184.13 billion, a P/E ratio of 55.68, a P/E/G ratio of 1.76 and a beta of 1.21. The stock’s fifty day simple moving average is $162.35 and its two-hundred day simple moving average is $156.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.14.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, research analysts forecast that General Electric will post 4.13 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a $0.28 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Ratings Changes

GE has been the subject of several recent research reports. UBS Group upped their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Royal Bank of Canada upped their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday. Bank of America upped their price objective on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, StockNews.com initiated coverage on shares of General Electric in a research note on Monday, April 29th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $183.93.

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.