TCG Advisory Services LLC Purchases Shares of 4,313 General Electric (NYSE:GE)

TCG Advisory Services LLC bought a new stake in General Electric (NYSE:GE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,313 shares of the conglomerate’s stock, valued at approximately $550,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Forte Capital LLC ADV grew its stake in shares of General Electric by 2.1% during the fourth quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock valued at $519,000 after acquiring an additional 83 shares in the last quarter. AJOVista LLC purchased a new position in General Electric in the fourth quarter valued at about $87,000. Baxter Bros Inc. grew its stake in General Electric by 5.5% during the 4th quarter. Baxter Bros Inc. now owns 44,113 shares of the conglomerate’s stock valued at $5,630,000 after purchasing an additional 2,289 shares in the last quarter. Legacy Financial Advisors Inc. increased its holdings in General Electric by 6.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 6,289 shares of the conglomerate’s stock worth $803,000 after purchasing an additional 366 shares during the last quarter. Finally, Knuff & Co LLC raised its position in shares of General Electric by 1.7% in the 4th quarter. Knuff & Co LLC now owns 11,288 shares of the conglomerate’s stock valued at $1,441,000 after purchasing an additional 188 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of GE stock traded up $1.47 during midday trading on Friday, reaching $164.11. 3,968,626 shares of the company were exchanged, compared to its average volume of 7,987,890. General Electric has a 12 month low of $77.93 and a 12 month high of $166.26. 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 price is $161.93 and its two-hundred day moving average price is $138.30. The company has a market cap of $179.64 billion, a P/E ratio of 53.81, a PEG ratio of 2.92 and a beta of 1.25.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, 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 declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GE shares. 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. Bank of America boosted their target price on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. StockNews.com initiated coverage on shares of General Electric in a research report on Monday, April 29th. They set a “hold” rating on the stock. Vertical Research started coverage on General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, The Goldman Sachs Group upped their price objective on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $172.29.

Insider Activity at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the firm’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 sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by insiders.

General Electric Company 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.