First National Bank & Trust Co. of Newtown Sells 225 Shares of General Electric (NYSE:GE)

First National Bank & Trust Co. of Newtown decreased its holdings in General Electric (NYSE:GE) by 2.2% in the second quarter, HoldingsChannel.com reports. The fund owned 9,867 shares of the conglomerate’s stock after selling 225 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in General Electric were worth $1,569,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GE. Moss Adams Wealth Advisors LLC boosted its stake in General Electric by 33.4% in the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 2,149 shares of the conglomerate’s stock worth $342,000 after purchasing an additional 538 shares during the period. Stableford Capital II LLC lifted its holdings in shares of General Electric by 10.5% in the second quarter. Stableford Capital II LLC now owns 5,714 shares of the conglomerate’s stock worth $895,000 after buying an additional 542 shares in the last quarter. Macroview Investment Management LLC boosted its position in shares of 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. First Bancorp Inc ME grew its stake in General Electric by 9.5% during the second quarter. First Bancorp Inc ME now owns 6,143 shares of the conglomerate’s stock valued at $977,000 after acquiring an additional 532 shares in the last quarter. Finally, Vicus Capital increased its holdings in General Electric by 51.0% in the 2nd quarter. Vicus Capital now owns 2,059 shares of the conglomerate’s stock valued at $327,000 after acquiring an additional 695 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GE. UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. JPMorgan Chase & Co. raised their price target on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Royal Bank of Canada upped their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. The Goldman Sachs Group increased their target price on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $190.38.

General Electric Trading Down 0.9 %

Shares of General Electric stock traded down $1.53 during trading on Thursday, hitting $169.67. The stock had a trading volume of 2,996,293 shares, compared to its average volume of 6,852,184. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm’s fifty day simple moving average is $163.80 and its 200-day simple moving average is $161.06. The stock has a market cap of $185.72 billion, a PE ratio of 55.50, a PEG ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. General Electric’s payout ratio is 36.72%.

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.