Private Trust Co. NA Has $776,000 Stock Position in General Electric (NYSE:GE)

Private Trust Co. NA decreased its stake in General Electric (NYSE:GE) by 16.7% in the fourth quarter, HoldingsChannel reports. The firm owned 4,653 shares of the conglomerate’s stock after selling 933 shares during the period. Private Trust Co. NA’s holdings in General Electric were worth $776,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Game Plan Financial Advisors LLC lifted its stake in General Electric by 10.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after acquiring an additional 55 shares in the last quarter. Red Door Wealth Management LLC lifted its stake in General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after acquiring an additional 56 shares in the last quarter. Saxon Interests Inc. lifted its stake in General Electric by 4.2% in the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after acquiring an additional 57 shares in the last quarter. Old North State Wealth Management LLC lifted its stake in General Electric by 3.0% in the 4th quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock worth $331,000 after acquiring an additional 58 shares in the last quarter. Finally, Northeast Investment Management lifted its stake in General Electric by 2.2% in the 4th quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock worth $452,000 after acquiring an additional 59 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GE shares. Citigroup increased their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group increased their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Up 2.9 %

Shares of GE stock opened at $207.22 on Friday. The stock’s 50 day simple moving average is $190.24 and its 200 day simple moving average is $182.10. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a twelve month low of $124.08 and a twelve month high of $212.19. The company has a market capitalization of $222.40 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, research analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 24.04%.

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.