Essex Savings Bank Has $551,000 Stock Position in General Electric (NYSE:GE)

Essex Savings Bank grew its position in General Electric (NYSE:GE) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,304 shares of the conglomerate’s stock after buying an additional 64 shares during the quarter. Essex Savings Bank’s holdings in General Electric were worth $551,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new position in shares of General Electric during the 2nd quarter valued at $556,000. Quantbot Technologies LP acquired a new position in General Electric during the second quarter valued at approximately $2,963,000. Citizens Financial Group Inc. RI raised its position in shares of General Electric by 55.2% in the second quarter. Citizens Financial Group Inc. RI now owns 7,172 shares of the conglomerate’s stock valued at $1,140,000 after purchasing an additional 2,550 shares during the period. Pekin Hardy Strauss Inc. raised its position in shares of General Electric by 16.7% in the second quarter. Pekin Hardy Strauss Inc. now owns 5,097 shares of the conglomerate’s stock valued at $810,000 after purchasing an additional 730 shares during the period. Finally, Bradley Foster & Sargent Inc. CT boosted its holdings in shares of General Electric by 174.2% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 50,029 shares of the conglomerate’s stock worth $7,953,000 after buying an additional 31,786 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade 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 is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was 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 Stock Up 2.0 %

Shares of NYSE GE opened at $180.34 on Thursday. General Electric has a 1 year low of $100.95 and a 1 year high of $194.80. The firm’s 50-day moving average is $174.37 and its 200-day moving average is $173.74. 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 capitalization of $195.18 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19.

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

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is 19.68%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GE shares. Sanford C. Bernstein upped their price target 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. Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company raised their price objective on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, UBS Group boosted their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus target price 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.