St. Johns Investment Management Company LLC Makes New $88,000 Investment in General Electric (NYSE:GE)

St. Johns Investment Management Company LLC bought a new position in General Electric (NYSE:GE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 500 shares of the conglomerate’s stock, valued at approximately $88,000.

Several other hedge funds also recently bought and sold shares of the company. Walker Asset Management LLC increased its position in General Electric by 1.7% in the 1st quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after purchasing an additional 70 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of General Electric by 1.7% during the 4th quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after acquiring an additional 74 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of General Electric by 1.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock valued at $814,000 after acquiring an additional 75 shares during the last quarter. Forte Capital LLC ADV increased its holdings in shares of General Electric by 2.1% during the 4th quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock valued at $519,000 after acquiring an additional 83 shares during the last quarter. Finally, Atlas Brown Inc. increased its holdings in shares of General Electric by 1.0% during the 4th quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock valued at $1,062,000 after acquiring an additional 85 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GE. JPMorgan Chase & Co. increased their price objective on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Jefferies Financial Group increased their price objective on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 29th. UBS Group increased their target price on General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Wells Fargo & Company increased their target price on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.27.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the firm’s 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 transaction, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Up 0.6 %

NYSE GE opened at $160.66 on Thursday. The stock has a fifty day moving average of $161.89 and a 200-day moving average of $150.77. The stock has a market capitalization of $175.86 billion, a P/E ratio of 52.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.23. General Electric has a 52 week low of $83.48 and a 52 week high of $170.80. 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 (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. The firm’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that General Electric will post 3.99 EPS for the current year.

General Electric Announces Dividend

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 given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. General Electric’s dividend payout ratio is currently 36.72%.

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.