Exchange Bank Boosts Stock Holdings in General Electric (NYSE:GE)

Exchange Bank increased its position in shares of General Electric (NYSE:GE) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,032 shares of the conglomerate’s stock after buying an additional 138 shares during the period. Exchange Bank’s holdings in General Electric were worth $506,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the third quarter worth $27,000. Peterson Financial Group Inc. acquired a new position in General Electric during the third quarter worth $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in General Electric during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Sanford C. Bernstein upped their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. UBS Group increased their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their price target 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. Wells Fargo & Company raised their price objective on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.47.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the 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 sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

General Electric Stock Up 1.7 %

Shares of NYSE GE opened at $182.83 on Tuesday. The company has a market capitalization of $197.87 billion, a P/E ratio of 32.13, a P/E/G ratio of 1.49 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company has a 50 day simple moving average of $174.30 and a 200-day simple moving average of $174.30. General Electric has a 1 year low of $101.16 and a 1 year high of $194.80.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, equities research analysts predict that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. General Electric’s payout ratio is currently 19.68%.

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.