General Electric (NYSE:GE) Position Reduced by Passumpsic Savings Bank

Passumpsic Savings Bank lessened its position in shares of General Electric (NYSE:GE) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,366 shares of the conglomerate’s stock after selling 1,437 shares during the quarter. General Electric makes up about 4.0% of Passumpsic Savings Bank’s holdings, making the stock its 2nd largest position. Passumpsic Savings Bank’s holdings in General Electric were worth $6,104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tsfg LLC grew its holdings in shares of General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after buying an additional 55 shares in the last quarter. Macroview Investment Management LLC boosted its position in General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. Strategic Advisors LLC grew its stake in General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after acquiring an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after acquiring an additional 60 shares during the last quarter. Finally, Allegheny Financial Group LTD lifted its stake in shares of General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on GE shares. Royal Bank of Canada dropped their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Bank of America lifted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. UBS Group upped their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Melius Research increased their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Performance

Shares of NYSE GE opened at $171.29 on Wednesday. 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 firm’s 50-day moving average price is $181.76 and its two-hundred day moving average price is $172.48. General Electric has a 52-week low of $95.71 and a 52-week high of $194.80. The stock has a market capitalization of $185.39 billion, a P/E ratio of 30.10, a P/E/G ratio of 1.69 and a beta of 1.17.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the business earned $0.82 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Insiders Place Their Bets

In other General Electric 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 value of $2,772,409.50. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on 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 approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

About General Electric

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.