Cresset Asset Management LLC Has $22.33 Million Stock Holdings in General Electric (NYSE:GE)

Cresset Asset Management LLC decreased its stake in General Electric (NYSE:GEFree Report) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174,896 shares of the conglomerate’s stock after selling 15,592 shares during the period. Cresset Asset Management LLC’s holdings in General Electric were worth $22,325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Halpern Financial Inc. raised its holdings in shares of General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after buying an additional 184 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in shares of General Electric in the fourth quarter valued at about $27,000. CGC Financial Services LLC raised its holdings in shares of General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares during the last quarter. Capital Analysts LLC raised its holdings in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares during the last quarter. Finally, Bfsg LLC bought a new position in shares of General Electric in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of NYSE GE opened at $162.74 on Tuesday. The firm has a market cap of $178.14 billion, a price-to-earnings ratio of 53.36, a P/E/G ratio of 1.79 and a beta of 1.23. General Electric has a one year low of $82.11 and a one year high of $170.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The stock’s fifty day moving average price is $159.90 and its two-hundred day moving average price is $147.58.

General Electric (NYSE:GEGet Free Report) last released 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 for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. On average, equities analysts forecast that General Electric will post 3.98 EPS for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were paid a $0.28 dividend. The ex-dividend date was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly 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 Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and lifted their price target for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group boosted their target price on General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Citigroup boosted their target price on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Royal Bank of Canada boosted their target price on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $177.27.

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General Electric Company Profile

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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.

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

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