Legacy Private Trust Co. Purchases 3,206 Shares of General Electric (NYSE:GE)

Legacy Private Trust Co. grew its position in shares of General Electric (NYSE:GE) by 16.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,660 shares of the conglomerate’s stock after buying an additional 3,206 shares during the period. Legacy Private Trust Co.’s holdings in General Electric were worth $3,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. Studio Investment Management LLC raised its position in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp purchased a new stake in shares of General Electric during the third quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric during the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in General Electric in the 3rd quarter worth about $27,000. Finally, Peterson Financial Group Inc. purchased a new position in General Electric during the 3rd quarter valued at about $28,000. Institutional investors own 74.77% of the company’s stock.

Insider Transactions at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the business’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 sale, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Up 0.3 %

Shares of GE stock traded up $0.54 on Wednesday, hitting $172.85. 4,509,612 shares of the company’s stock traded hands, compared to its average volume of 4,801,725. The company’s fifty day simple moving average is $174.36 and its 200 day simple moving average is $173.28. General Electric has a one year low of $100.95 and a one year high of $194.80. The stock has a market capitalization of $187.07 billion, a price-to-earnings ratio of 30.38, a P/E/G ratio of 1.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the company posted $0.82 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GE shares. UBS Group raised their price objective 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. Sanford C. Bernstein upped their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada reduced their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Northcoast Research initiated coverage on General Electric in a research report on Tuesday. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.