Raymond James Trust N.A. boosted its position in shares of General Electric (NYSE:GE) by 13.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 179,215 shares of the conglomerate’s stock after acquiring an additional 21,368 shares during the quarter. Raymond James Trust N.A.’s holdings in General Electric were worth $2,353,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Savior LLC grew its holdings in General Electric by 157.7% during the fourth quarter. Savior LLC now owns 2,564 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 1,569 shares during the period. Exchange Traded Concepts LLC purchased a new stake in General Electric during the first quarter valued at approximately $28,000. TD Ameritrade Investment Management LLC purchased a new stake in General Electric during the fourth quarter valued at approximately $31,000. Perkins Coie Trust Co purchased a new stake in General Electric during the fourth quarter valued at approximately $32,000. Finally, Childress Capital Advisors LLC purchased a new stake in General Electric during the fourth quarter valued at approximately $35,000. Institutional investors own 60.09% of the company’s stock.
Shares of NYSE:GE opened at $13.09 on Wednesday. General Electric has a 52-week low of $5.48 and a 52-week high of $14.41. The stock has a market cap of $114.91 billion, a P/E ratio of 36.36, a price-to-earnings-growth ratio of 8.61 and a beta of 1.06. The business’s 50 day moving average is $13.29 and its 200 day moving average is $11.52. The company has a quick ratio of 2.04, a current ratio of 2.31 and a debt-to-equity ratio of 2.10.
The business also recently announced a quarterly dividend, which was paid on Monday, April 26th. Shareholders of record on Monday, March 8th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, March 5th. This represents a $0.04 annualized dividend and a yield of 0.31%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
Several equities research analysts have recently weighed in on GE shares. The Goldman Sachs Group set a $15.00 price target on General Electric and gave the stock a “buy” rating in a report on Wednesday, March 17th. Royal Bank of Canada increased their price target on General Electric from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, May 4th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of General Electric in a report on Tuesday, January 26th. Morgan Stanley increased their price target on General Electric from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, March 10th. Finally, Credit Suisse Group increased their price target on General Electric from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, May 4th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. General Electric presently has a consensus rating of “Hold” and an average target price of $14.00.
In related news, Director Paula Rosput Reynolds bought 5,000 shares of the company’s stock in a transaction on Friday, March 12th. The shares were acquired at an average price of $12.50 per share, with a total value of $62,500.00. Following the transaction, the director now owns 26,500 shares of the company’s stock, valued at $331,250. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by company insiders.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.
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