Grimes & Company Inc. Buys 275 Shares of General Electric (NYSE:GE)

Grimes & Company Inc. boosted its holdings in General Electric (NYSE:GE) by 2.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,838 shares of the conglomerate’s stock after acquiring an additional 275 shares during the quarter. Grimes & Company Inc.’s holdings in General Electric were worth $2,429,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after acquiring an additional 550,996 shares in the last quarter. Norges Bank bought a new position in shares of General Electric during the 4th quarter worth approximately $1,193,159,000. Morgan Stanley lifted its position in shares of General Electric by 5.1% during the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after buying an additional 434,736 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of General Electric by 6.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock worth $849,385,000 after buying an additional 426,794 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of General Electric by 62.3% during the 4th quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock worth $623,058,000 after buying an additional 1,873,327 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 1.0 %

General Electric stock opened at $158.97 on Friday. General Electric has a 1-year low of $84.42 and a 1-year high of $170.80. The firm has a market capitalization of $174.01 billion, a price-to-earnings ratio of 52.12, a P/E/G ratio of 1.69 and a beta of 1.23. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The firm has a 50 day simple moving average of $162.36 and a 200 day simple moving average of $151.37.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating 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 analyst estimates of $15.25 billion. During the same period in the previous year, the business earned $0.27 EPS. General Electric’s revenue was up 11.1% compared to the same quarter last year. On average, analysts predict that General Electric will post 4 earnings per share for the current year.

General Electric Dividend Announcement

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

Insider Buying and Selling at General Electric

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 shares were 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 directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the topic of several recent analyst reports. Barclays dropped their target price on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Citigroup lifted their target price on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Jefferies Financial Group lifted their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company lifted their target price on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Finally, UBS Group raised their price target on shares of General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Two investment 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, the company has an average rating of “Moderate Buy” and an average price target 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.