Victory Capital Management Inc. Increases Stock Position in General Electric (NYSE:GE)

Victory Capital Management Inc. grew its stake in shares of General Electric (NYSE:GEGet Rating) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 318,102 shares of the conglomerate’s stock after acquiring an additional 23,264 shares during the quarter. Victory Capital Management Inc.’s holdings in General Electric were worth $23,715,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GE. Missouri Trust & Investment Co bought a new stake in General Electric in the 4th quarter worth about $27,000. Benjamin Edwards Inc. increased its holdings in General Electric by 325.0% in the 4th quarter. Benjamin Edwards Inc. now owns 289 shares of the conglomerate’s stock worth $27,000 after buying an additional 221 shares in the last quarter. Covestor Ltd bought a new stake in General Electric in the 4th quarter worth about $31,000. FSB Premier Wealth Management Inc. bought a new stake in shares of General Electric during the 4th quarter valued at about $32,000. Finally, Emerson Wealth LLC bought a new stake in shares of General Electric during the 4th quarter valued at about $32,000. 67.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent research reports. Morgan Stanley cut their price target on General Electric from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Barclays lowered their price objective on General Electric from $96.00 to $81.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. Bank of America lowered their price objective on General Electric from $132.00 to $120.00 in a research report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $90.00 to $88.00 in a research report on Wednesday, July 27th. Finally, Wells Fargo & Company lifted their price objective on General Electric to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $107.21.

General Electric Stock Up 0.5 %

NYSE GE opened at $74.74 on Thursday. The stock’s 50 day moving average is $69.06 and its 200 day moving average is $82.55. The company has a current ratio of 1.13, a quick ratio of 0.80 and a debt-to-equity ratio of 0.77. General Electric has a 12 month low of $59.93 and a 12 month high of $116.17. The stock has a market cap of $81.96 billion, a PE ratio of -17.63, a P/E/G ratio of 3.96 and a beta of 1.11.

General Electric (NYSE:GEGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.40. The business had revenue of $18.65 billion for the quarter, compared to analysts’ expectations of $17.90 billion. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. Research analysts predict that General Electric will post 2.74 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Tuesday, June 28th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. General Electric’s dividend payout ratio (DPR) is -7.55%.

Insider Activity

In related news, Director Paula Rosput Reynolds bought 1,200 shares of the business’s stock in a transaction dated Friday, May 6th. The shares were purchased at an average price of $77.65 per share, with a total value of $93,180.00. Following the transaction, the director now owns 5,563 shares in the company, valued at approximately $431,966.95. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Paula Rosput Reynolds bought 1,200 shares of the business’s stock in a transaction dated Friday, May 6th. The shares were purchased at an average price of $77.65 per share, with a total value of $93,180.00. Following the transaction, the director now owns 5,563 shares in the company, valued at approximately $431,966.95. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Electric Co General sold 72,025,826 shares of the company’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $34.45, for a total value of $2,481,289,705.70. Following the completion of the transaction, the insider now directly owns 3,931,363 shares in the company, valued at approximately $135,435,455.35. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

General Electric Company Profile

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

Further Reading

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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