Lake Street Advisors Group LLC Purchases Shares of 3,660 General Electric (NYSE:GE)

Lake Street Advisors Group LLC bought a new stake in General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,660 shares of the conglomerate’s stock, valued at approximately $467,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Armistice Capital LLC bought a new stake in General Electric during the 4th quarter worth about $1,398,000. Edge Capital Group LLC bought a new stake in shares of General Electric during the fourth quarter valued at approximately $266,000. CIBC Private Wealth Group LLC increased its holdings in shares of General Electric by 3.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 77,992 shares of the conglomerate’s stock valued at $9,954,000 after purchasing an additional 2,400 shares in the last quarter. Carmignac Gestion raised its position in General Electric by 34.6% in the 4th quarter. Carmignac Gestion now owns 1,626,360 shares of the conglomerate’s stock worth $207,572,000 after purchasing an additional 418,051 shares during the last quarter. Finally, Intrepid Financial Planning Group LLC acquired a new position in General Electric during the 4th quarter worth $206,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

GE traded up $0.66 during trading hours on Wednesday, reaching $162.04. The company’s stock had a trading volume of 2,236,319 shares, compared to its average volume of 7,472,828. 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’s 50-day moving average is $161.07 and its 200-day moving average is $146.40. General Electric has a 52 week low of $82.11 and a 52 week high of $170.80. The firm has a market cap of $177.37 billion, a PE ratio of 52.69, a price-to-earnings-growth ratio of 1.78 and a beta of 1.23.

General Electric (NYSE:GE) last posted 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 net margin of 5.05% and a return on equity of 12.54%. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter last year, the company posted $0.27 EPS. General Electric’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts forecast 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. Stockholders of record on Monday, April 15th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is 36.72%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group upped their price target on General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Argus lifted their price target on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Royal Bank of Canada raised their price objective on shares of General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group upped their target price on shares of General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $176.00.

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.