General Electric (NYSE:GE) Shares Purchased by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. grew its stake in General Electric (NYSE:GE) by 12.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,356 shares of the conglomerate’s stock after acquiring an additional 1,213 shares during the period. Orrstown Financial Services Inc.’s holdings in General Electric were worth $1,894,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Strategic Blueprint LLC raised its position in General Electric by 15.2% in the 4th quarter. Strategic Blueprint LLC now owns 3,883 shares of the conglomerate’s stock valued at $648,000 after purchasing an additional 512 shares in the last quarter. Forsta AP Fonden boosted its position in shares of General Electric by 0.8% during the 4th quarter. Forsta AP Fonden now owns 320,625 shares of the conglomerate’s stock worth $53,477,000 after acquiring an additional 2,500 shares in the last quarter. Foster Victor Wealth Advisors LLC acquired a new stake in shares of General Electric during the 4th quarter worth about $421,000. Robeco Institutional Asset Management B.V. boosted its holdings in General Electric by 13.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,004,609 shares of the conglomerate’s stock valued at $167,559,000 after purchasing an additional 116,666 shares in the last quarter. Finally, Foster Group Inc. increased its stake in General Electric by 5.2% in the fourth quarter. Foster Group Inc. now owns 1,587 shares of the conglomerate’s stock valued at $265,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 2.3 %

GE traded up $4.49 during trading on Wednesday, hitting $198.92. 477,779 shares of the company’s stock were exchanged, compared to its average volume of 6,149,709. The stock has a 50 day moving average price of $176.00 and a 200 day moving average price of $175.63. General Electric has a 1 year low of $104.98 and a 1 year high of $207.65. 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 firm has a market cap of $215.29 billion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. As a group, analysts expect that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.56%. General Electric’s dividend payout ratio is presently 19.68%.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on 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 directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents 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 business’s stock in a transaction on 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 sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GE shares. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Sanford C. Bernstein boosted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Bank of America increased their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday. UBS Group lifted their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

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.