First National Bank Sioux Falls Makes New Investment in General Electric (NYSE:GE)

First National Bank Sioux Falls acquired a new stake in General Electric (NYSE:GE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,617 shares of the conglomerate’s stock, valued at approximately $206,000.

Other hedge funds also recently modified their holdings of the company. Halpern Financial Inc. lifted its position in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in General Electric in the 4th quarter valued at $27,000. CGC Financial Services LLC grew its holdings in General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares in the last quarter. Capital Analysts LLC increased its position in General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares during the period. Finally, Macroview Investment Management LLC lifted its holdings in shares of General Electric by 43.4% during the third quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate’s stock worth $35,000 after buying an additional 96 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

GE traded up $12.43 on Tuesday, reaching $162.62. The stock had a trading volume of 18,843,017 shares, compared to its average volume of 8,137,180. The firm has a 50-day moving average of $159.52 and a 200-day moving average of $135.03. General Electric has a fifty-two week low of $76.87 and a fifty-two week high of $163.65. The company has a market capitalization of $177.79 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 2.92 and a beta of 1.29. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the business earned $0.27 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that General Electric will post 3.76 EPS for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be paid a $0.28 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. General Electric’s payout ratio is currently 13.38%.

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Royal Bank of Canada lowered their price target on shares of General Electric from $180.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Barclays dropped their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Wells Fargo & Company decreased their price target on General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Finally, TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and upped their price objective for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

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.