General Electric (NYSE:GE) Shares Acquired by City State Bank

City State Bank lifted its stake in shares of General Electric (NYSE:GE) by 43.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,165 shares of the conglomerate’s stock after purchasing an additional 652 shares during the period. City State Bank’s holdings in General Electric were worth $361,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GE. State Street Corp lifted its stake in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 acquiring an additional 156,272 shares in the last quarter. Newport Trust Company LLC acquired a new position in General Electric in the 2nd quarter worth approximately $2,613,332,000. Legal & General Group Plc grew its position in General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after purchasing an additional 459,201 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in General Electric by 91.8% during 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. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company raised their price objective on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Royal Bank of Canada dropped their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Citigroup boosted their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

General Electric Stock Down 0.7 %

Shares of GE traded down $1.23 during trading hours on Monday, hitting $170.46. 1,216,692 shares of the company were exchanged, compared to its average volume of 4,317,082. The firm’s 50 day moving average is $174.34 and its 200-day moving average is $173.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 52 week low of $100.95 and a 52 week high of $194.80. The company has a market cap of $184.49 billion, a PE ratio of 29.96, a PEG ratio of 1.63 and a beta of 1.19.

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

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 $2,407,036.57. This 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 corporate insiders.

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.