Scarborough Advisors LLC Takes Position in General Electric (NYSE:GE)

Scarborough Advisors LLC acquired a new position in shares of General Electric (NYSE:GE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 405 shares of the conglomerate’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of General Electric in the third quarter worth $3,022,000. Robertson Stephens Wealth Management LLC grew its position in General Electric by 36.6% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 4,243 shares of the conglomerate’s stock worth $469,000 after purchasing an additional 1,137 shares during the last quarter. Glenview Trust co grew its position in General Electric by 9.3% in the 3rd quarter. Glenview Trust co now owns 10,325 shares of the conglomerate’s stock worth $1,141,000 after purchasing an additional 877 shares during the last quarter. CI Investments Inc. increased its holdings in shares of General Electric by 27.0% during the 3rd quarter. CI Investments Inc. now owns 8,257 shares of the conglomerate’s stock worth $913,000 after purchasing an additional 1,754 shares during the period. Finally, Rathbones Group PLC raised its position in shares of General Electric by 11.0% during the third quarter. Rathbones Group PLC now owns 219,817 shares of the conglomerate’s stock valued at $24,301,000 after buying an additional 21,740 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of NYSE:GE opened at $163.23 on Tuesday. The business has a fifty day moving average of $160.97 and a 200-day moving average of $148.97. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a twelve month low of $82.11 and a twelve month high of $170.80. The firm has a market cap of $178.67 billion, a PE ratio of 53.52, a price-to-earnings-growth ratio of 1.66 and a beta of 1.23.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter last year, the company posted $0.27 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that General Electric will post 3.99 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were issued a dividend of $0.28 per share. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio is currently 36.72%.

Insider Activity

In other news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was 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 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of several research reports. The Goldman Sachs Group boosted their price target on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and upped their target price for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Argus raised their target price on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group increased their price objective on shares of General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Finally, Vertical Research assumed coverage on shares of General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $177.27.

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.