Bath Savings Trust Co reduced its position in shares of General Electric (NYSE:GE – Free Report) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,093 shares of the conglomerate’s stock after selling 319 shares during the quarter. Bath Savings Trust Co’s holdings in General Electric were worth $779,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. FMR LLC increased its holdings in shares of General Electric by 5.7% in the first quarter. FMR LLC now owns 63,795,835 shares of the conglomerate’s stock valued at $6,098,882,000 after purchasing an additional 3,463,502 shares during the last quarter. State Street Corp grew its stake in General Electric by 17.3% during the first quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock worth $4,639,533,000 after buying an additional 7,157,356 shares in the last quarter. TCI Fund Management Ltd. acquired a new stake in General Electric during the first quarter worth about $2,496,379,000. Geode Capital Management LLC lifted its holdings in shares of General Electric by 1.7% in the first quarter. Geode Capital Management LLC now owns 19,272,027 shares of the conglomerate’s stock worth $1,837,514,000 after acquiring an additional 319,196 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after acquiring an additional 13,427,079 shares during the last quarter. 74.83% of the stock is owned by institutional investors.
General Electric Stock Up 1.4 %
Shares of NYSE:GE traded up $1.66 during trading on Monday, reaching $117.15. The stock had a trading volume of 1,831,104 shares, compared to its average volume of 6,121,898. The firm’s 50-day simple moving average is $112.98 and its 200 day simple moving average is $104.05. The company has a market capitalization of $127.50 billion, a P/E ratio of 13.86, a PEG ratio of 7.22 and a beta of 1.28. The company has a current ratio of 1.25, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61. General Electric has a one year low of $48.06 and a one year high of $117.96.
General Electric Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Tuesday, September 26th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, September 25th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. General Electric’s payout ratio is 3.80%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on GE. Bank of America raised their price objective on shares of General Electric from $108.00 to $120.00 in a report on Thursday, July 6th. Wolfe Research lifted their price target on shares of General Electric from $107.00 to $125.00 in a research report on Wednesday, June 28th. Barclays raised their price objective on General Electric from $125.00 to $131.00 and gave the company an “overweight” rating in a research note on Tuesday, July 25th. The Goldman Sachs Group lifted their target price on General Electric from $121.00 to $133.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Finally, Wells Fargo & Company boosted their price objective on General Electric from $100.00 to $105.00 in a research note on Monday, July 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.
Insider Activity at General Electric
In related news, major shareholder General Electric Pension Trust acquired 35,160 shares of General Electric stock in a transaction that occurred on Friday, June 30th. The shares were purchased at an average cost of $995.44 per share, for a total transaction of $34,999,670.40. Following the acquisition, 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 accessible through this link. In related news, SVP Michael J. Holston sold 112,614 shares of the company’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 directly owns 57,923 shares in the company, valued at $6,672,729.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder General Electric Pension Trust bought 35,160 shares of the business’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 purchase, the insider now directly owns 175,160 shares of the company’s stock, valued at approximately $174,361,270.40. The disclosure for this purchase can be found here. 0.67% of the stock is owned by insiders.
General Electric Company Profile
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.
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