General Electric (NYSE:GE) Holdings Raised by Ledyard National Bank

Ledyard National Bank increased its position in General Electric (NYSE:GE) by 20.1% in the fourth quarter, HoldingsChannel reports. The firm owned 3,015 shares of the conglomerate’s stock after acquiring an additional 504 shares during the period. Ledyard National Bank’s holdings in General Electric were worth $503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Catalyst Capital Advisors LLC increased its stake in General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after buying an additional 146 shares during the period. Johnson & White Wealth Management LLC acquired a new stake in shares of General Electric in the fourth quarter worth about $733,000. State Street Corp lifted its holdings in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Soltis Investment Advisors LLC boosted its holdings in shares of General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after buying an additional 20,575 shares during the period. Finally, World Investment Advisors LLC boosted its holdings in General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after acquiring an additional 5,162 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GE. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Citigroup raised their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. UBS Group increased their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.73.

Insider Activity

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Down 0.4 %

Shares of NYSE:GE opened at $205.32 on Friday. General Electric has a 52 week low of $110.57 and a 52 week high of $207.84. The company has a market capitalization of $220.37 billion, a PE ratio of 34.28, a PEG ratio of 2.53 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a 50 day moving average price of $179.22 and a two-hundred day moving average price of $177.55.

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

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.55%. General Electric’s payout ratio is presently 18.70%.

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.