Boltwood Capital Management Invests $219,000 in General Electric (NYSE:GE)

Boltwood Capital Management acquired a new position in shares of General Electric (NYSE:GE) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,250 shares of the conglomerate’s stock, valued at approximately $219,000.

Several other large investors also recently modified their holdings of GE. Norges Bank acquired a new stake in shares of General Electric during the fourth quarter worth $1,193,159,000. WCM Investment Management LLC acquired a new stake in General Electric in the fourth quarter worth $520,488,000. Lone Pine Capital LLC acquired a new stake in General Electric in the fourth quarter worth $268,519,000. Brown Advisory Inc. grew its holdings in General Electric by 62.3% in the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock worth $623,058,000 after purchasing an additional 1,873,327 shares during the period. Finally, International Assets Investment Management LLC grew its holdings 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 purchasing an additional 1,563,484 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GE. Vertical Research began coverage on shares of General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price target for the company. Citigroup raised their price objective on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Argus raised their price objective 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. Jefferies Financial Group raised 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, TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and raised their price objective for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $177.27.

General Electric Stock Performance

NYSE GE opened at $164.97 on Thursday. General Electric has a 52-week low of $82.11 and a 52-week high of $170.80. The company has a 50-day simple moving average of $161.35 and a 200 day simple moving average of $149.38. 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 company has a market capitalization of $180.58 billion, a PE ratio of 54.09, a price-to-earnings-growth ratio of 1.76 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter last year, the company posted $0.27 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that General Electric will post 3.99 EPS for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is 36.72%.

General Electric 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.