Factory Mutual Insurance Co. Sells 37,000 Shares of General Electric (NYSE:GE)

Factory Mutual Insurance Co. trimmed its position in shares of General Electric (NYSE:GE) by 17.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 181,067 shares of the conglomerate’s stock after selling 37,000 shares during the quarter. Factory Mutual Insurance Co.’s holdings in General Electric were worth $31,783,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Halpern Financial Inc. increased its position in shares of General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 184 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of General Electric in the 4th quarter worth $27,000. CGC Financial Services LLC raised its stake 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 worth $30,000 after purchasing an additional 110 shares during the last quarter. Capital Analysts LLC lifted its holdings in shares of General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares in the last quarter. Finally, Bfsg LLC purchased a new stake in shares of General Electric during the fourth quarter valued at $32,000. 74.77% of the stock is currently owned by institutional investors.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the company’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 completion of the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of several research analyst reports. UBS Group upped their target price on shares of General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Vertical Research initiated coverage on shares of General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $177.27.

General Electric Stock Performance

General Electric stock traded up $2.92 during midday trading on Tuesday, hitting $163.46. The stock had a trading volume of 2,315,939 shares, compared to its average volume of 7,360,858. General Electric has a 52-week low of $82.69 and a 52-week high of $170.80. The company has a market capitalization of $178.92 billion, a PE ratio of 53.18, a P/E/G ratio of 1.75 and a beta of 1.23. The firm’s fifty day moving average is $161.83 and its two-hundred day moving average is $150.49. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last announced its quarterly earnings data 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. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the prior year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts forecast that General Electric will post 3.99 EPS for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. General Electric’s dividend payout ratio is presently 36.72%.

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.