General Electric (NYSE:GE) Stock Position Lessened by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC reduced its stake in shares of General Electric (NYSE:GE) by 7.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,249 shares of the conglomerate’s stock after selling 107 shares during the quarter. Hexagon Capital Partners LLC’s holdings in General Electric were worth $219,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new stake in General Electric during the fourth quarter worth approximately $1,193,159,000. WCM Investment Management LLC acquired a new position in shares of General Electric in the 4th quarter worth $520,488,000. Lone Pine Capital LLC acquired a new stake in shares of General Electric during the fourth quarter worth $268,519,000. Brown Advisory Inc. lifted its holdings in shares of General Electric by 62.3% during the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock valued at $623,058,000 after purchasing an additional 1,873,327 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of General Electric by 11,947.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock valued at $201,218,000 after purchasing an additional 1,563,484 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GE. Wells Fargo & Company boosted their price objective on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. UBS Group upped their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com began coverage on shares of General Electric in a research report on Monday, April 29th. They set a “hold” rating on the stock. Vertical Research assumed coverage on General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price for the company. Finally, Bank of America lifted 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. Two research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.93.

General Electric Price Performance

Shares of GE opened at $158.98 on Tuesday. 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 firm has a market cap of $174.02 billion, a PE ratio of 52.12, a PEG ratio of 1.69 and a beta of 1.22. The firm’s 50 day moving average price is $162.36 and its 200 day moving average price is $151.59. General Electric has a twelve month low of $84.42 and a twelve month high of $170.80.

General Electric (NYSE:GE) last announced 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 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 analyst estimates of $15.25 billion. During the same quarter in the prior year, the business posted $0.27 EPS. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts expect that General Electric will post 4 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared 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 of this dividend 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 is currently 36.72%.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

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.