WASHINGTON TRUST Co Raises Stock Position in General Electric (NYSE:GE)

WASHINGTON TRUST Co increased its holdings in shares of General Electric (NYSE:GE) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 6,053 shares of the conglomerate’s stock after acquiring an additional 70 shares during the quarter. WASHINGTON TRUST Co’s holdings in General Electric were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GE. Red Door Wealth Management LLC raised its position in General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after purchasing an additional 56 shares during the last quarter. Saxon Interests Inc. raised its position in General Electric by 4.2% in the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after purchasing an additional 57 shares during the last quarter. Old North State Wealth Management LLC raised its position in General Electric by 3.0% in the 4th quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after purchasing an additional 58 shares during the last quarter. Northeast Investment Management raised its position in General Electric by 2.2% in the 4th quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock valued at $452,000 after purchasing an additional 59 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its position in General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’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 sale, the senior vice president now directly owns 148,857 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on GE. UBS Group upped 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $208.73.

General Electric Stock Performance

Shares of GE opened at $208.62 on Friday. The company has a 50-day simple moving average of $182.66 and a 200-day simple moving average of $179.25. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $223.91 billion, a PE ratio of 34.83, a P/E/G ratio of 2.56 and a beta of 1.22. General Electric has a 52-week low of $117.43 and a 52-week high of $211.42.

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

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is presently 18.70%.

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.