Sendero Wealth Management LLC, a prominent investment management firm, has reported a significant increase in its stake in General Electric (GE) during the first quarter. According to their recent filing with the Securities and Exchange Commission, Sendero Wealth Management increased its holdings in the conglomerate by 37.5%. The firm purchased an additional 4,193 shares of GE, bringing their total holdings to 15,370 shares. The total value of Sendero Wealth Management’s investment in General Electric stands at approximately $1.47 million.
Institutional investors and hedge funds have also shown confidence in General Electric, with several of them either adding to or reducing their stakes in the company. Flputnam Investment Management Co. increased its holdings by 9.2% during the first quarter, acquiring an additional 735 shares. Benjamin F. Edwards & Company Inc. raised its holdings by 21.6%, adding 1,757 shares to its portfolio. Simplicity Solutions LLC saw a substantial increase of 219.2% in its stake, with an additional 24,310 shares. Ballentine Partners LLC also increased its holdings by 5.0%, purchasing 626 more shares. Furthermore, NorthLanding Financial Partners LLC entered the scene as a new investor, acquiring a position worth approximately $200,000 in General Electric.
GE Stock Up 0.2 %
General Electric’s stock has experienced a modest increase of 0.2% in recent trading, with shares trading at $111.37 on Thursday. General Electric has demonstrated strong performance, reaching a 52-week high of $111.97 and a 52-week low of $46.60. With a market capitalization of $121.28 billion, General Electric maintains a price-to-earnings ratio of 14.50 and a price-to-earnings-growth ratio of 7.82. The stock’s fifty-day moving average stands at $104.64, while the 200-day moving average is $93.32.
During General Electric’s last quarterly earnings release on April 25th, the company reported earnings per share (EPS) of $0.27, surpassing the consensus estimate of $0.13 by $0.14. The conglomerate achieved a net margin of 11.85% and a return on equity of 9.45%. General Electric’s quarterly revenue was $14.49 billion, exceeding the consensus estimate of $13.46 billion. Compared to the same period the previous year, the company experienced a 14.3% increase in revenue. Equities analysts predict that General Electric will post earnings per share of $2.03 for the current year.
General Electric Announce Dividend
General Electric recently announced its quarterly dividend, set to be paid on July 25th. Stockholders of record as of July 11th will receive a dividend of $0.08 per share. This translates to an annualized dividend of $0.32 and a dividend yield of 0.29%. The ex-dividend date for this payment was July 10th. General Electric’s dividend payout ratio (DPR) currently stands at 4.17%.
GE Stock Forecast
According to the 17 analysts forecasts on General Electric stock and the average target price is projected to reach USD 99.91 in the next 12 months. These analysts have given General Electric Company an average rating of “Strong Buy”. However, Stock Target Advisor’s analysis of the company’s stock indicates a slightly bearish outlook, considering 4 positive signals and 9 negative signals. As of the last closing, General Electric Company’s stock was priced at USD 111.28. Over the past week, the stock price has increased by +3.64%, while over the past month, it has seen a rise of +4.25%. Looking back at the last year, General Electric stock price has surged by +79.45%.
In terms of insider activity, Vice President Thomas S. Timko sold 7,254 shares of General Electric’s stock in a transaction on May 1st. The shares were sold at an average price of $100.82, resulting in a total transaction value of $731,348.28. Following this sale, Vice President Timko holds 20,953 shares, valued at approximately $2.11 million. In another transaction, Senior Vice President Scott Strazik sold 173,873 shares on May 10th, with an average price of $99.56, totaling $17.31 million. As a result, Strazik now owns 56,049 shares, valued at $5.58 million. Insiders have sold a total of 239,419 shares worth $24.14 million in the last three months. Company insiders currently own 0.67% of General Electric’s stock.
With Sendero Wealth Management and other institutional investors increasing their holdings, General Electric’s stock price has seen a slight uptick. The conglomerate’s positive earnings report, upcoming dividend payment, and favorable analyst ratings contribute to the overall market confidence in General Electric.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
We have now taking investing to a new level with our “Portfolio Assist” Service! “With Portfolio Assist, you gain access to a wealth of knowledge and expertise from our diverse professional team, are dedicated to helping you interpret the insights from our platform, ensuring that you can make informed decisions as you build and maintain your investment portfolio.
