Baxter Bros Inc. Grows Stock Holdings in General Electric (NYSE:GE)

Baxter Bros Inc. raised its position in shares of General Electric (NYSE:GE) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,113 shares of the conglomerate’s stock after acquiring an additional 2,289 shares during the period. Baxter Bros Inc.’s holdings in General Electric were worth $5,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Dakota Wealth Management grew its holdings in shares of General Electric by 163.4% in the third quarter. Dakota Wealth Management now owns 5,577 shares of the conglomerate’s stock worth $617,000 after purchasing an additional 3,460 shares during the last quarter. Raymond James & Associates increased its holdings in shares of General Electric by 7.0% in the 3rd quarter. Raymond James & Associates now owns 595,259 shares of the conglomerate’s stock valued at $65,806,000 after acquiring an additional 39,046 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of General Electric by 7.6% during the third quarter. Stratos Wealth Partners LTD. now owns 15,613 shares of the conglomerate’s stock valued at $1,726,000 after buying an additional 1,101 shares during the last quarter. Stratos Wealth Advisors LLC boosted its stake in General Electric by 35.7% in the third quarter. Stratos Wealth Advisors LLC now owns 4,342 shares of the conglomerate’s stock valued at $480,000 after acquiring an additional 1,143 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its stake in General Electric by 13.6% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 11,095 shares of the conglomerate’s stock worth $1,227,000 after buying an additional 1,330 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GE shares. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Jefferies Financial Group boosted their target price on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Barclays lowered their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. JPMorgan Chase & Co. dropped their target price on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company increased their target price on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Buying and Selling

In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by corporate insiders.

General Electric Price Performance

General Electric stock traded up $1.47 during mid-day trading on Friday, hitting $164.11. 3,968,626 shares of the company were exchanged, compared to its average volume of 7,987,890. The company has a market capitalization of $179.64 billion, a PE ratio of 53.81, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. General Electric has a 1-year low of $77.93 and a 1-year high of $166.26. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $161.93 and a 200 day moving average of $137.89.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the firm earned $0.27 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts expect that General Electric will post 3.96 earnings per share for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

About General Electric

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.