Sutton Place Investors LLC Purchases Shares of 1,236 General Electric (NYSE:GE)

Sutton Place Investors LLC acquired a new position in shares of General Electric (NYSE:GE) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,236 shares of the conglomerate’s stock, valued at approximately $217,000.

A number of other hedge funds have also made changes to their positions in GE. Halpern Financial Inc. boosted its holdings in shares of General Electric by 968.4% in the fourth 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 purchased a new position in General Electric during the 4th quarter worth $27,000. CGC Financial Services LLC increased its stake in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 110 shares during the period. Capital Analysts LLC raised its holdings in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in shares of General Electric during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GE. Citigroup increased their price target on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Bank of America lifted their target price on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. The Goldman Sachs Group increased their price target on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price objective on General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Finally, TD Cowen raised General Electric from a “hold” rating to a “buy” rating and increased their target price 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 thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $172.29.

Insider Transactions at General Electric

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the 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 completion of the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Trading Down 1.7 %

General Electric stock traded down $2.74 during trading on Tuesday, reaching $161.75. The company had a trading volume of 6,722,311 shares, compared to its average volume of 8,063,052. General Electric has a 12-month low of $77.93 and a 12-month high of $166.26. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The stock’s 50 day moving average price is $161.29 and its two-hundred day moving average price is $137.17. The firm has a market capitalization of $177.05 billion, a price-to-earnings ratio of 53.03, a PEG ratio of 2.90 and a beta of 1.29.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. As a group, equities analysts expect that General Electric will post 3.93 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 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.