General Electric (NYSE:GE) Shares Purchased by Exchange Bank

Exchange Bank raised its stake in General Electric (NYSE:GE) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,032 shares of the conglomerate’s stock after purchasing an additional 138 shares during the period. Exchange Bank’s holdings in General Electric were worth $506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp lifted its position in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Geode Capital Management LLC raised its stake in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after buying an additional 156,272 shares in the last quarter. Legal & General Group Plc lifted its holdings in General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after buying an additional 459,201 shares during the last quarter. Jennison Associates LLC boosted its position in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of General Electric by 6.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock valued at $1,236,428,000 after acquiring an additional 413,388 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

General Electric Price Performance

General Electric stock opened at $182.83 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The business has a 50 day simple moving average of $174.30 and a 200-day simple moving average of $174.30. General Electric has a 12 month low of $101.16 and a 12 month high of $194.80. The stock has a market capitalization of $197.87 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.49 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS. Equities analysts predict that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric’s dividend payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. UBS Group boosted their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

About General Electric

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.