Kentucky Trust Co Makes New Investment in General Electric (NYSE:GE)

Kentucky Trust Co acquired a new position in General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,167 shares of the conglomerate’s stock, valued at approximately $361,000.

Other institutional investors have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC raised its holdings in General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares in the last quarter. Johnson & White Wealth Management LLC bought a new position in General Electric in the fourth quarter worth $733,000. State Street Corp grew its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Soltis Investment Advisors LLC grew its stake in shares of General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after acquiring an additional 20,575 shares during the last quarter. Finally, World Investment Advisors LLC grew its stake in shares of General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after acquiring an additional 5,162 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of General Electric 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 directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Up 1.9 %

General Electric stock opened at $209.03 on Wednesday. The business has a 50-day simple moving average of $180.18 and a two-hundred day simple moving average of $178.28. The company has a market cap of $224.35 billion, a P/E ratio of 34.90, a P/E/G ratio of 2.56 and a beta of 1.22. General Electric has a 52-week low of $110.95 and a 52-week high of $209.15. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts predict that General Electric will post 5.39 EPS for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.54%. General Electric’s dividend payout ratio is currently 18.70%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GE shares. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. increased their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock 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 stock. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $208.73.

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.