Gilman Hill Asset Management LLC Purchases Shares of 1,159 General Electric (NYSE:GE)

Gilman Hill Asset Management LLC acquired a new position in General Electric (NYSE:GE) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,159 shares of the conglomerate’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Halpern Financial Inc. grew its stake in General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after buying an additional 184 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of General Electric during the fourth quarter valued at approximately $27,000. CGC Financial Services LLC grew its holdings in shares of General Electric by 90.2% during the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after buying an additional 110 shares in the last quarter. Capital Analysts LLC raised its holdings in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 87 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in shares of General Electric in the 4th quarter worth $32,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. UBS Group upped their price objective on shares of General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Bank of America lifted their target price on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Finally, Barclays cut their target price on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Two research 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.com, General Electric has a consensus rating of “Moderate Buy” and an average price target of $177.27.

General Electric Price Performance

NYSE GE opened at $159.73 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $174.84 billion, a P/E ratio of 52.37, a PEG ratio of 1.71 and a beta of 1.23. General Electric has a 52 week low of $82.69 and a 52 week high of $170.80. The company has a 50-day moving average price of $161.89 and a 200-day moving average price of $150.77.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping 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 company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the previous year, the business posted $0.27 earnings per share. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate that General Electric will post 3.99 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be given a $0.28 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by corporate 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.