Welch & Forbes LLC Has $5.86 Million Position in General Electric (NYSE:GE)

Welch & Forbes LLC decreased its holdings in shares of General Electric (NYSE:GE) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,903 shares of the conglomerate’s stock after selling 387 shares during the period. Welch & Forbes LLC’s holdings in General Electric were worth $5,859,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. WCM Investment Management LLC bought a new position in shares of General Electric in the fourth quarter valued at approximately $520,488,000. International Assets Investment Management LLC raised its position in General Electric by 11,947.8% in the fourth quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock worth $201,218,000 after acquiring an additional 1,563,484 shares during the period. Carmignac Gestion purchased a new position in General Electric in the third quarter valued at about $133,581,000. AQR Capital Management LLC lifted its position in shares of General Electric by 358.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,456,673 shares of the conglomerate’s stock valued at $161,035,000 after buying an additional 1,138,896 shares during the last quarter. Finally, Barclays PLC increased its holdings in General Electric by 30.5% in the 3rd quarter. Barclays PLC now owns 2,990,039 shares of the conglomerate’s stock worth $330,548,000 after acquiring an additional 699,585 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Trading Up 0.5 %

Shares of NYSE:GE traded up $0.81 on Tuesday, reaching $168.78. 4,733,691 shares of the company traded hands, compared to its average volume of 7,870,777. General Electric has a 52 week low of $78.17 and a 52 week high of $170.80. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The business’s 50-day simple moving average is $162.49 and its 200 day simple moving average is $139.17. The stock has a market capitalization of $184.75 billion, a P/E ratio of 55.34, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25.

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, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period last year, the company earned $0.27 EPS. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that General Electric will post 3.96 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. General Electric’s payout ratio is 36.72%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays reduced their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. dropped their price target on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. StockNews.com assumed coverage on General Electric in a report on Monday, April 29th. They set a “hold” rating for the company. Argus raised their target price on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group boosted their price target on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Buying and Selling

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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.