AIA Group Ltd Acquires 12,447 Shares of General Electric (NYSE:GE)

AIA Group Ltd grew its holdings in General Electric (NYSE:GE) by 208.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,425 shares of the conglomerate’s stock after acquiring an additional 12,447 shares during the quarter. AIA Group Ltd’s holdings in General Electric were worth $3,234,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Motive Wealth Advisors acquired a new position in General Electric during the first quarter worth about $209,000. Envestnet Portfolio Solutions Inc. raised its stake in General Electric by 30.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 59,020 shares of the conglomerate’s stock worth $10,360,000 after acquiring an additional 13,603 shares in the last quarter. Empirical Finance LLC raised its stake in General Electric by 3.5% during the first quarter. Empirical Finance LLC now owns 39,263 shares of the conglomerate’s stock worth $6,892,000 after acquiring an additional 1,311 shares in the last quarter. Davidson Capital Management Inc. acquired a new position in General Electric during the first quarter worth about $55,000. Finally, Kayne Anderson Capital Advisors LP acquired a new position in General Electric during the first quarter worth about $11,917,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 1.8 %

Shares of General Electric stock traded down $2.96 on Friday, reaching $158.96. 5,982,334 shares of the company’s stock were exchanged, compared to its average volume of 7,141,495. General Electric has a 52 week low of $84.42 and a 52 week high of $170.80. The firm’s 50-day moving average is $162.59 and its two-hundred day moving average is $153.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The company has a market capitalization of $174.00 billion, a P/E ratio of 52.12, a price-to-earnings-growth ratio of 1.75 and a beta of 1.21.

General Electric (NYSE:GE) last issued its 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. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period last year, the business earned $0.27 EPS. General Electric’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts predict that General Electric will post 4.02 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several brokerages have commented on GE. Bank of America boosted their target price on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company upped their price objective on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. StockNews.com initiated coverage on General Electric in a research note on Monday, April 29th. They issued a “hold” rating for the company. Barclays lowered their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Finally, Jefferies Financial Group upped their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $181.93.

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.