Advisory Resource Group Acquires Shares of 1,906 General Electric (NYSE:GE)

Advisory Resource Group acquired a new stake in shares of General Electric (NYSE:GE) in the second quarter, HoldingsChannel.com reports. The firm acquired 1,906 shares of the conglomerate’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. TCI Fund Management Ltd. purchased a new stake in shares of General Electric during the 1st quarter valued at about $2,496,379,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of General Electric by 122,242.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock valued at $878,644,000 after acquiring an additional 13,427,079 shares during the last quarter. Norges Bank purchased a new stake in shares of General Electric during the 4th quarter valued at about $635,274,000. State Street Corp boosted its holdings in shares of General Electric by 17.3% during the 1st quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock valued at $4,639,533,000 after acquiring an additional 7,157,356 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of General Electric by 5.7% in the first quarter. FMR LLC now owns 63,795,835 shares of the conglomerate’s stock worth $6,098,882,000 after buying an additional 3,463,502 shares during the last quarter. 74.83% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Michael J. Holston sold 112,614 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.20, for a total value of $12,973,132.80. Following the sale, the senior vice president now owns 57,923 shares in the company, valued at $6,672,729.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Michael J. Holston sold 112,614 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.20, for a total value of $12,973,132.80. Following the sale, the senior vice president now owns 57,923 shares in the company, valued at $6,672,729.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder General Electric Pension Trust purchased 35,160 shares of General Electric stock in a transaction that occurred on Friday, June 30th. The stock was acquired at an average price of $995.44 per share, for a total transaction of $34,999,670.40. Following the transaction, the insider now directly owns 175,160 shares of the company’s stock, valued at approximately $174,361,270.40. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GE shares. Jefferies Financial Group raised their price objective on shares of General Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, July 17th. Citigroup raised their price objective on shares of General Electric from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday. Barclays raised their price objective on shares of General Electric from $125.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, July 25th. Finally, Wells Fargo & Company raised their price objective on shares of General Electric from $100.00 to $105.00 in a report on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.00.

General Electric Trading Up 0.9 %

General Electric stock opened at $116.56 on Tuesday. The stock has a market cap of $126.86 billion, a P/E ratio of 13.83, a PEG ratio of 7.21 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.90. General Electric has a 1 year low of $48.06 and a 1 year high of $117.96. The firm’s 50 day moving average price is $112.98 and its 200-day moving average price is $104.05.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.22. The firm had revenue of $15.85 billion for the quarter, compared to analysts’ expectations of $14.76 billion. General Electric had a net margin of 13.32% and a return on equity of 9.30%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. On average, equities analysts predict that General Electric will post 2.29 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Tuesday, September 26th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Monday, September 25th. General Electric’s payout ratio is currently 3.80%.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.