General Electric (NYSE:GE) Shares Sold by Cambridge Trust Co.

Cambridge Trust Co. lessened its stake in General Electric (NYSE:GE) by 7.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,722 shares of the conglomerate’s stock after selling 437 shares during the period. Cambridge Trust Co.’s holdings in General Electric were worth $547,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Wealth Management Investment Advisory Inc. boosted its position in General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after buying an additional 299 shares during the period. Syverson Strege & Co boosted its position in General Electric by 53.6% in the 1st quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock valued at $32,000 after buying an additional 118 shares during the period. Ridgewood Investments LLC purchased a new position in General Electric in the 1st quarter valued at approximately $34,000. Silicon Valley Capital Partners purchased a new position in General Electric in the 4th quarter valued at approximately $31,000. Finally, Financial Freedom LLC purchased a new position in General Electric in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 74.83% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder General Electric Pension Trust bought 35,160 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were purchased at an average price of $995.44 per share, for a total transaction of $34,999,670.40. Following the completion of the transaction, the insider now owns 175,160 shares in the company, valued at $174,361,270.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Michael J. Holston sold 112,614 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $115.20, for a total transaction of $12,973,132.80. Following the sale, the senior vice president now owns 57,923 shares in the company, valued at $6,672,729.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder General Electric Pension Trust purchased 35,160 shares of the business’s stock in a transaction on Friday, June 30th. The shares were bought at an average cost of $995.44 per share, for a total transaction of $34,999,670.40. Following the purchase, the insider now owns 175,160 shares of the company’s stock, valued at $174,361,270.40. The disclosure for this purchase can be found here. 0.67% of the stock is owned by company insiders.

General Electric Stock Performance

GE traded down $0.22 on Friday, reaching $114.24. The company had a trading volume of 3,539,620 shares, compared to its average volume of 6,257,912. General Electric has a 1 year low of $48.06 and a 1 year high of $117.96. The company has a quick ratio of 0.90, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $111.74 and a 200-day moving average price of $101.68. The stock has a market capitalization of $124.34 billion, a PE ratio of 13.55, a P/E/G ratio of 6.98 and a beta of 1.28.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.22. The firm had revenue of $15.85 billion for the quarter, compared to the consensus estimate of $14.76 billion. General Electric had a net margin of 13.32% and a return on equity of 9.30%. The firm’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. As a group, research analysts forecast that General Electric will post 2.33 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Tuesday, July 11th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, July 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. General Electric’s dividend payout ratio is presently 3.80%.

Analysts Set New Price Targets

Several brokerages have commented on GE. The Goldman Sachs Group raised their price target on shares of General Electric from $121.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Argus lifted their price objective on shares of General Electric from $112.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Jefferies Financial Group lifted their price objective on shares of General Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. Wells Fargo & Company lifted their price objective on shares of General Electric from $100.00 to $105.00 in a research report on Monday, July 10th. Finally, StockNews.com assumed coverage on shares of General Electric in a research report on Thursday, August 17th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.