Sovereign Financial Group Inc. Buys Shares of 1,678 General Electric (NYSE:GE)

Sovereign Financial Group Inc. acquired a new position in shares of General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,678 shares of the conglomerate’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prime Capital Investment Advisors LLC raised its holdings in General Electric by 29.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after purchasing an additional 6,419 shares in the last quarter. Fifth Third Bancorp lifted its holdings in General Electric by 12.5% in the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock valued at $33,335,000 after acquiring an additional 28,985 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in General Electric by 10.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after acquiring an additional 10,722 shares during the period. Grandfield & Dodd LLC lifted its holdings in General Electric by 9.3% in the fourth quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after acquiring an additional 22,998 shares during the period. Finally, Qsemble Capital Management LP bought a new position in General Electric in the third quarter valued at about $1,846,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Transactions at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Up 0.0 %

NYSE GE traded up $0.08 on Wednesday, reaching $168.86. 4,787,210 shares of the stock traded hands, compared to its average volume of 7,836,166. 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 fifty day moving average price of $162.49 and a 200-day moving average price of $139.17. The company has a market cap of $184.84 billion, a price-to-earnings ratio of 55.67, a PEG ratio of 2.92 and a beta of 1.25. General Electric has a 12 month low of $78.17 and a 12 month high of $170.80.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. As a group, research analysts forecast that General Electric will post 3.96 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s payout ratio is presently 36.72%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GE shares. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and increased their target price for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Vertical Research began coverage on General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. Jefferies Financial Group lifted their target price on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, April 29th. StockNews.com began coverage on General Electric in a research note on Monday, April 29th. They set a “hold” rating on the stock. Finally, Barclays decreased their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $172.29.

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.