General Electric (NYSE:GE) Shares Sold by Courier Capital LLC

Courier Capital LLC trimmed its stake in shares of General Electric (NYSE:GE) by 4.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,437 shares of the conglomerate’s stock after selling 431 shares during the period. Courier Capital LLC’s holdings in General Electric were worth $1,481,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Halpern Financial Inc. boosted its position in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 184 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in General Electric during the fourth quarter worth approximately $27,000. CGC Financial Services LLC boosted its position in 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 purchasing an additional 110 shares in the last quarter. Capital Analysts LLC boosted its position in General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares in the last quarter. Finally, Bfsg LLC purchased a new position in General Electric during the fourth quarter worth approximately $32,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Electric 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 transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by insiders.

General Electric Price Performance

NYSE:GE opened at $159.01 on Friday. The stock has a 50 day moving average price of $162.36 and a 200 day moving average price of $151.17. 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 stock has a market cap of $174.05 billion, a PE ratio of 52.13, a P/E/G ratio of 1.71 and a beta of 1.23. General Electric has a one year low of $84.42 and a one year high of $170.80.

General Electric (NYSE:GE) last posted its 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. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. Equities research analysts expect that General Electric will post 3.99 EPS for the current fiscal year.

General Electric Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GE. Argus increased their price target on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Barclays decreased their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Bank of America raised their target price on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Company raised their target price on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Finally, Citigroup raised their target price on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.36.

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.