Trust Co. of Toledo NA OH Acquires 1,399 Shares of General Electric (NYSE:GE)

Trust Co. of Toledo NA OH increased its holdings in General Electric (NYSE:GE) by 43.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,637 shares of the conglomerate’s stock after buying an additional 1,399 shares during the period. Trust Co. of Toledo NA OH’s holdings in General Electric were worth $773,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp boosted its holdings in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares during the period. Geode Capital Management LLC boosted its holdings in General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after purchasing an additional 156,272 shares during the period. Newport Trust Company LLC bought a new position in General Electric in the 2nd quarter valued at $2,613,332,000. Legal & General Group Plc boosted its holdings in General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares during the period. Finally, Jennison Associates LLC boosted its holdings in General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares during the period. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of several analyst reports. UBS Group raised their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Melius Research lifted their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Stock Performance

General Electric stock opened at $171.48 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $185.59 billion, a PE ratio of 30.14, a P/E/G ratio of 1.63 and a beta of 1.19. The firm has a fifty day simple moving average of $174.34 and a two-hundred day simple moving average of $173.62. 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 results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. Research analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

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

Insider Activity

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly 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 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.