Compagnie Lombard Odier SCmA has significantly increased its position in General Electric (GE) during the first quarter, as revealed in its recent 13F filing with the Securities and Exchange Commission. The company acquired an additional 22,000 shares of GE, resulting in a 703.8% increase and bringing its total holdings to 25,126 shares. The value of Compagnie Lombard Odier stake in General Electric Stock stands at $2,402,000 according to the latest filing.
Growing Interest from Institutional Investors and Hedge Funds
In addition to Compagnie Lombard Odier SCmA, other institutional investors and hedge funds have also made modifications to their GE holdings. TFO TDC LLC and Addenda Capital Inc. acquired new positions in General Electric, valued at approximately $31,000 and $26,000, respectively. Global Wealth Management Investment Advisory Inc. increased its holdings in GE by 808.1% during the first quarter, now owning 336 shares valued at $31,000. MADDEN SECURITIES Corp and Ridgewood Investments LLC also purchased new stakes in General Electric, valued at around $28,000 and $34,000, respectively. Institutional investors and hedge funds currently hold 74.75% of GE stock.
Positive Outlook from Wall Street Analysts
Several research firms have expressed their views on GE’s prospects. JPMorgan Chase & Co. raised their price target on General Electric from $100.00 to $102.00 and assigned a “neutral” rating to the stock. Barclays increased its price target from $115.00 to $125.00, while StockNews.com initiated coverage with a “buy” rating. Wells Fargo & Company raised its price target from $100.00 to $105.00, and Morgan Stanley increased its target from $90.00 to $110.00, assigning an “overweight” rating. Overall, the company holds an average rating of “Strong Buy” according to STA Research, with a target price of $100.75.
Insider Buying and Selling Activities
VP Thomas S. Timko sold 7,254 shares of General Electric stock on May 1st, with an average price of $100.82, resulting in a transaction worth $731,348.28. After the sale, Timko now owns 20,953 shares valued at approximately $2,112,481.46. SVP Scott Strazik sold 173,873 shares on May 10th at an average price of $99.56, amounting to a total transaction of $17,310,795.88. Strazik now holds 56,049 shares valued at approximately $5,580,238.44. Overall, insiders have sold 239,419 shares of General Electric stock in the past 90 days, with a total value of $24,144,151. Corporate insiders currently own 0.67% of the company’s stock.
General Electric Stock Performance and Financials
On Monday, GE stock traded at $111.75, reaching a high of $112.15. The company has a market capitalization of $121.69 billion, a PE ratio of 14.53, and a beta of 1.27. General Electric’s 1-year low is $48.06, and its 1-year high is $112.15. The 50-day moving average is $105.08, while the 200-day moving average is $93.80.
In its most recent quarterly earnings report, General Electric exceeded analysts’ estimates. The conglomerate reported earnings per share (EPS) of $0.27, surpassing the consensus estimate of $0.13 by $0.14. General Electric’s return on equity was 9.45%, and it achieved a net margin of 11.85%. The company generated $14.49 billion in revenue during the quarter, beating the consensus estimate of $13.46 billion. Compared to the same period last year, General Electric’s revenue grew by 14.3%.
General Electric Announces Dividend
General Electric recently announced its quarterly dividend, which will be paid on July 25th to stockholders of record as of July 11th. The dividend payment is set at $0.08 per share, resulting in an annualized dividend of $0.32 and a dividend yield of 0.29%. The ex-dividend date for this payout was July 10th.
Overall, the increased stake by Compagnie Lombard Odier SCmA, alongside the interest from various institutional investors and positive outlook from Wall Street analysts, reflects growing confidence in General Electric’s future prospects.
