Sweeney & Michel LLC Invests $203,000 in General Electric (NYSE:GE)

Sweeney & Michel LLC purchased a new position in shares of General Electric (NYSE:GE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,269 shares of the conglomerate’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Janus Henderson Group PLC raised its position in shares of General Electric by 38.7% during the 1st quarter. Janus Henderson Group PLC now owns 149,769 shares of the conglomerate’s stock worth $26,280,000 after purchasing an additional 41,795 shares during the period. Kingdon Capital Management L.L.C. acquired a new stake in General Electric in the 1st quarter valued at approximately $13,165,000. Kinetic Partners Management LP increased its position in General Electric by 22.7% in the 1st quarter. Kinetic Partners Management LP now owns 294,100 shares of the conglomerate’s stock valued at $51,623,000 after acquiring an additional 54,500 shares during the period. Bayberry Capital Partners LP acquired a new stake in General Electric in the 1st quarter valued at approximately $14,042,000. Finally, Benchmark Investment Advisors LLC acquired a new stake in General Electric in the 1st quarter valued at approximately $857,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GE. UBS Group raised their target price on 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 raised their target price on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. raised their target price on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Bank of America raised their target price on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.71.

General Electric Price Performance

Shares of GE traded down $2.36 during trading hours on Tuesday, hitting $167.51. 5,328,831 shares of the company were exchanged, compared to its average volume of 7,137,227. The company has a market capitalization of $181.63 billion, a PE ratio of 54.92, a PEG ratio of 1.71 and a beta of 1.22. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a fifty day simple moving average of $162.70 and a 200-day simple moving average of $157.23. General Electric has a one year low of $84.42 and a one year high of $177.20.

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, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. As a group, sell-side analysts predict that General Electric will post 4.13 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a $0.28 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was 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 of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by insiders.

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.