AMG National Trust Bank Sells 4,324 Shares of General Electric (NYSE:GE)

AMG National Trust Bank cut its holdings in General Electric (NYSE:GE) by 30.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,886 shares of the conglomerate’s stock after selling 4,324 shares during the period. AMG National Trust Bank’s holdings in General Electric were worth $1,864,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GE. Studio Investment Management LLC increased its position in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric in the third quarter worth approximately $27,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of General Electric in the third quarter worth $28,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

General Electric stock opened at $177.58 on Tuesday. The company’s 50-day moving average price is $182.54 and its 200-day moving average price is $170.81. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $192.19 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. General Electric has a twelve month low of $94.54 and a twelve month high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, equities research analysts forecast that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio is presently 19.68%.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade 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 this hyperlink. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GE. Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada dropped their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Bank of America lifted their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric 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.