Stonebridge Capital Advisors LLC Sells 509 Shares of General Electric (NYSE:GE)

Stonebridge Capital Advisors LLC lessened its stake in shares of General Electric (NYSE:GE) by 25.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,529 shares of the conglomerate’s stock after selling 509 shares during the period. Stonebridge Capital Advisors LLC’s holdings in General Electric were worth $268,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Canada Pension Plan Investment Board raised its stake in General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the period. Capital World Investors raised its stake in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the period. Capital International Sarl raised its stake in General Electric by 132.3% in the first quarter. Capital International Sarl now owns 136,099 shares of the conglomerate’s stock valued at $23,889,000 after buying an additional 77,522 shares during the period. Toronto Dominion Bank raised its stake in General Electric by 2.0% in the first quarter. Toronto Dominion Bank now owns 649,198 shares of the conglomerate’s stock valued at $113,954,000 after buying an additional 12,799 shares during the period. Finally, Capital International Ltd. CA raised its stake in General Electric by 91.3% in the first quarter. Capital International Ltd. CA now owns 79,292 shares of the conglomerate’s stock valued at $13,918,000 after buying an additional 37,852 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE traded up $5.14 during trading hours on Friday, reaching $169.81. The stock had a trading volume of 7,297,730 shares, compared to its average volume of 5,743,017. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20. The stock has a market capitalization of $184.13 billion, a PE ratio of 55.68, a PEG ratio of 1.70 and a beta of 1.21. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.14. The company’s 50-day moving average is $162.35 and its two-hundred day moving average is $156.30.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. Research analysts expect that General Electric will post 4.1 EPS for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. General Electric’s payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GE shares. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Argus upped their target price on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group upped their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Wells Fargo & Company increased their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $183.93.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

General Electric 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.