Mountain Pacific Investment Advisers Inc. ID Makes New Investment in General Electric (NYSE:GE)

Mountain Pacific Investment Advisers Inc. ID bought a new position in shares of General Electric (NYSE:GE) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,403 shares of the conglomerate’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Walker Asset Management LLC increased its stake in shares of General Electric by 1.7% during the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after buying an additional 70 shares during the period. Great Valley Advisor Group Inc. increased its stake in shares of General Electric by 1.7% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock worth $550,000 after buying an additional 74 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of General Electric by 1.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock worth $814,000 after buying an additional 75 shares during the period. Forte Capital LLC ADV increased its stake in shares of General Electric by 2.1% during the fourth quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock worth $519,000 after buying an additional 83 shares during the period. Finally, Atlas Brown Inc. boosted its holdings in General Electric by 1.0% in the fourth quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock valued at $1,062,000 after purchasing an additional 85 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GE. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Jefferies Financial Group upped their price target on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 29th. Bank of America upped their price target on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. upped their price target on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Finally, Barclays lowered their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $177.27.

General Electric Price Performance

General Electric stock opened at $164.24 on Monday. General Electric has a 12 month low of $82.11 and a 12 month high of $170.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The business has a 50 day simple moving average of $161.69 and a 200-day simple moving average of $150.20. The stock has a market capitalization of $179.78 billion, a PE ratio of 53.85, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 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 during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts predict that General Electric will post 3.99 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the 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 transaction, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by company insiders.

About General Electric

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.