General Electric (NYSE:GE) Shares Purchased by Private Trust Co. NA

Private Trust Co. NA raised its holdings in General Electric (NYSE:GE) by 21.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,586 shares of the conglomerate’s stock after acquiring an additional 984 shares during the period. Private Trust Co. NA’s holdings in General Electric were worth $1,053,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Mount Yale Investment Advisors LLC acquired a new position in General Electric during the first quarter worth approximately $299,000. Caxton Associates LP acquired a new position in General Electric in the first quarter valued at $744,000. Silvercrest Asset Management Group LLC boosted its holdings in General Electric by 0.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 28,358 shares of the conglomerate’s stock valued at $4,978,000 after acquiring an additional 102 shares during the last quarter. Waverly Advisors LLC grew its position in General Electric by 54.1% during the first quarter. Waverly Advisors LLC now owns 8,891 shares of the conglomerate’s stock valued at $1,561,000 after acquiring an additional 3,120 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of General Electric by 38.7% in the 1st quarter. Janus Henderson Group PLC now owns 149,769 shares of the conglomerate’s stock worth $26,280,000 after purchasing an additional 41,795 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Activity

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

General Electric Stock Down 0.5 %

Shares of NYSE:GE opened at $180.21 on Tuesday. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $195.04 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. The company has a fifty day simple moving average of $183.20 and a 200 day simple moving average of $171.22.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 EPS. On average, equities research analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GE. Royal Bank of Canada dropped their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Sanford C. Bernstein lifted 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. Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

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.