General Electric (NYSE:GE) Shares Sold by Passumpsic Savings Bank

Passumpsic Savings Bank lowered its position in General Electric (NYSE:GE) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,275 shares of the conglomerate’s stock after selling 1,091 shares during the quarter. General Electric accounts for 3.3% of Passumpsic Savings Bank’s investment portfolio, making the stock its 4th biggest position. Passumpsic Savings Bank’s holdings in General Electric were worth $5,216,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in 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 purchasing an additional 3,719,894 shares during the period. Janus Henderson Group PLC lifted its stake in shares of General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after purchasing an additional 1,593,413 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after buying an additional 973,135 shares during the period. State Street Corp grew its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of General Electric by 12.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock valued at $774,458,000 after buying an additional 457,038 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 4.2 %

NYSE:GE opened at $199.90 on Friday. The company has a market cap of $214.55 billion, a PE ratio of 33.37, a P/E/G ratio of 2.62 and a beta of 1.22. The business’s 50 day moving average is $186.57 and its two-hundred day moving average is $180.72. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 52 week low of $119.88 and a 52 week high of $212.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a $0.36 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.72%. General Electric’s payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. UBS Group upped their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Wells Fargo & Company upped their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Redburn Atlantic started coverage on General Electric in a research report on Tuesday. They set a “buy” rating and a $250.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Company Profile

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.