Ledyard National Bank Invests $319,000 in General Electric (NYSE:GE)

Ledyard National Bank acquired a new position in General Electric (NYSE:GE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,499 shares of the conglomerate’s stock, valued at approximately $319,000.

Other hedge funds have also recently made changes to their positions in the company. Halpern Financial Inc. increased its position in General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after buying an additional 184 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in General Electric in the 4th quarter valued at about $27,000. CGC Financial Services LLC increased its position 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% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares in the last quarter. Finally, Bfsg LLC bought a new stake in General Electric in the 4th quarter valued at about $32,000. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GE. JPMorgan Chase & Co. decreased their target price on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. StockNews.com assumed coverage on General Electric in a report on Monday. They set a “hold” rating for the company. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Citigroup boosted their price objective on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Argus boosted their price objective on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $172.29.

General Electric Trading Down 1.0 %

Shares of NYSE GE traded down $1.63 during trading hours on Tuesday, hitting $162.86. The company’s stock had a trading volume of 2,512,518 shares, compared to its average volume of 8,010,398. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The stock has a market cap of $178.27 billion, a price-to-earnings ratio of 53.93, a P/E/G ratio of 2.90 and a beta of 1.29. General Electric has a 12 month low of $77.93 and a 12 month high of $166.26. The business has a 50-day simple moving average of $161.02 and a 200-day simple moving average of $136.80.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. On average, analysts anticipate that General Electric will post 3.93 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s payout ratio is presently 36.72%.

Insider Buying and Selling at General Electric

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

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.