General Electric (NYSE:GE) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its stake in General Electric (NYSE:GE) by 2.4% during the 4th quarter, HoldingsChannel reports. The firm owned 225,607 shares of the conglomerate’s stock after selling 5,662 shares during the quarter. M&T Bank Corp’s holdings in General Electric were worth $28,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WCM Investment Management LLC acquired a new stake in General Electric in the fourth quarter valued at approximately $520,488,000. International Assets Investment Management LLC boosted its holdings in General Electric by 11,947.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock worth $201,218,000 after buying an additional 1,563,484 shares during the last quarter. Carmignac Gestion purchased a new stake in General Electric during the 3rd quarter worth approximately $133,581,000. AQR Capital Management LLC raised its holdings in shares of General Electric by 358.4% during the third quarter. AQR Capital Management LLC now owns 1,456,673 shares of the conglomerate’s stock valued at $161,035,000 after acquiring an additional 1,138,896 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of General Electric by 30.5% in the third quarter. Barclays PLC now owns 2,990,039 shares of the conglomerate’s stock valued at $330,548,000 after acquiring an additional 699,585 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 0.9 %

GE traded up $1.47 on Friday, hitting $164.11. The company had a trading volume of 3,968,626 shares, compared to its average volume of 7,987,890. The company’s fifty day moving average price is $161.93 and its 200 day moving average price is $137.89. General Electric has a 1 year low of $77.93 and a 1 year high of $166.26. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The firm has a market cap of $179.64 billion, a P/E ratio of 53.81, a PEG ratio of 2.89 and a beta of 1.25.

General Electric (NYSE:GE) last released its quarterly earnings results 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 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the previous year, the firm earned $0.27 EPS. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts expect that General Electric will post 3.96 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. 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 dividend payout ratio is 36.72%.

Insider Transactions at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the subject of several research reports. Royal Bank of Canada boosted their price target on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and increased their target price for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Wells Fargo & Company boosted their price target on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. StockNews.com assumed coverage on shares of General Electric in a report on Monday, April 29th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group boosted their target price on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.29.

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.