3Chopt Investment Partners LLC Makes New $307,000 Investment in General Electric (NYSE:GE)

3Chopt Investment Partners LLC purchased a new position in General Electric (NYSE:GE) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 2,404 shares of the conglomerate’s stock, valued at approximately $307,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Halpern Financial Inc. grew its position in General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 184 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in General Electric during the 4th quarter worth approximately $27,000. CGC Financial Services LLC grew its position in General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 110 shares in the last quarter. Capital Analysts LLC grew its position in 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 purchasing an additional 87 shares in the last quarter. Finally, Bfsg LLC purchased a new position in General Electric during the 4th quarter worth approximately $32,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GE has been the topic of several research analyst reports. Barclays lowered their price objective 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. Jefferies Financial Group boosted their price target on shares of General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 29th. Citigroup boosted their price target on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Bank of America boosted their price target on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada boosted their price target on shares of General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $176.00.

General Electric Stock Down 0.0 %

Shares of GE stock traded down $0.03 on Tuesday, hitting $167.30. The company’s stock had a trading volume of 3,455,182 shares, compared to its average volume of 7,556,636. 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 has a fifty-two week low of $79.76 and a fifty-two week high of $170.80. The firm’s fifty day moving average price is $162.31 and its 200-day moving average price is $144.42. The stock has a market capitalization of $183.13 billion, a price-to-earnings ratio of 54.64, a P/E/G ratio of 1.85 and a beta of 1.25.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. Research analysts anticipate that General Electric will post 3.98 EPS for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a dividend of $0.28 per share. 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. General Electric’s payout ratio is currently 36.72%.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

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.