Victory Capital Management Inc. Has $48.55 Million Stake in General Electric (NYSE:GE)

Victory Capital Management Inc. lowered its holdings in shares of General Electric (NYSE:GE) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,424 shares of the conglomerate’s stock after selling 5,691 shares during the period. Victory Capital Management Inc.’s holdings in General Electric were worth $48,554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GE. Atlas Brown Inc. lifted its stake in General Electric by 1.0% during the fourth quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock worth $1,062,000 after purchasing an additional 85 shares during the last quarter. Capital Analysts LLC lifted its position in shares of General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares during the last quarter. Capital Investment Counsel Inc boosted its stake in General Electric by 2.2% in the fourth quarter. Capital Investment Counsel Inc now owns 4,031 shares of the conglomerate’s stock valued at $514,000 after buying an additional 88 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in General Electric by 9.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,027 shares of the conglomerate’s stock valued at $131,000 after acquiring an additional 91 shares during the last quarter. Finally, Ballast Advisors LLC raised its stake in General Electric by 4.8% during the fourth quarter. Ballast Advisors LLC now owns 1,994 shares of the conglomerate’s stock worth $254,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by company insiders.

General Electric Stock Up 0.9 %

Shares of NYSE:GE opened at $164.11 on Monday. The business’s 50-day moving average is $161.93 and its 200-day moving average is $138.30. General Electric has a 1 year low of $77.93 and a 1 year high of $166.26. The company has a market capitalization of $179.64 billion, a price-to-earnings ratio of 53.81, a P/E/G ratio of 2.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82.

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 analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion for 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 company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 EPS. Equities research analysts predict that General Electric will post 3.96 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s payout ratio is presently 36.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. StockNews.com started coverage on shares of General Electric in a research note on Monday, April 29th. They issued a “hold” rating on the stock. Bank of America boosted their target price on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Citigroup upped their price target on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group boosted their price objective on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Argus upped their target price on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $172.29.

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.