General Electric (NYSE:GE) Shares Sold by Farmers Trust Co.

Farmers Trust Co. cut its holdings in shares of General Electric (NYSE:GE) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,885 shares of the conglomerate’s stock after selling 273 shares during the quarter. Farmers Trust Co.’s holdings in General Electric were worth $1,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lantz Financial LLC raised its holdings in General Electric by 1.9% in the second quarter. Lantz Financial LLC now owns 3,718 shares of the conglomerate’s stock valued at $591,000 after acquiring an additional 70 shares in the last quarter. Norden Group LLC boosted its position in shares of General Electric by 19.7% during the 2nd quarter. Norden Group LLC now owns 1,594 shares of the conglomerate’s stock worth $253,000 after acquiring an additional 262 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of General Electric during the 2nd quarter worth about $188,000. Asset Dedication LLC boosted its holdings in General Electric by 16.4% in the second quarter. Asset Dedication LLC now owns 953 shares of the conglomerate’s stock valued at $151,000 after purchasing an additional 134 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of General Electric by 28,412.5% during the 2nd quarter. Quest Partners LLC now owns 2,281 shares of the conglomerate’s stock worth $363,000 after buying an additional 2,273 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.4 %

Shares of General Electric stock traded up $0.63 during mid-day trading on Wednesday, hitting $172.94. 2,601,097 shares of the stock were exchanged, compared to its average volume of 4,418,319. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $187.17 billion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. The company has a 50-day simple moving average of $174.36 and a 200 day simple moving average of $173.28. General Electric has a twelve month low of $100.95 and a twelve month high of $194.80.

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

General Electric Announces Dividend

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

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GE. UBS Group boosted their price target 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. Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note 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 company an “outperform” rating in a research report on Monday, October 14th. Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.