First National Bank & Trust Co. of Newtown Sells 268 Shares of General Electric (NYSE:GE)

First National Bank & Trust Co. of Newtown trimmed its position in shares of General Electric (NYSE:GE) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,115 shares of the conglomerate’s stock after selling 268 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in General Electric were worth $1,291,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GE. State Street Corp grew its stake in General Electric by 17.3% in the 1st quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock worth $4,639,533,000 after acquiring an additional 7,157,356 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in General Electric by 122,242.2% in the 4th 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 in the last quarter. Northern Trust Corp grew its stake in General Electric by 4.0% in the 3rd quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after acquiring an additional 410,061 shares in the last quarter. Morgan Stanley grew its stake in General Electric by 5.1% in the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after acquiring an additional 434,736 shares in the last quarter. Finally, Norges Bank bought a new position in General Electric in the 4th quarter worth about $635,274,000. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. StockNews.com started coverage on shares of General Electric in a research note on Saturday, April 13th. They set a “hold” rating on the stock. Bank of America dropped their price objective on shares of General Electric from $175.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Finally, Jefferies Financial Group dropped their price objective on shares of General Electric from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.07.

Insiders Place Their Bets

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is available at this link. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Down 2.4 %

NYSE:GE traded down $3.64 during midday trading on Friday, reaching $149.30. 4,077,368 shares of the stock traded hands, compared to its average volume of 7,926,326. General Electric has a 12-month low of $76.87 and a 12-month high of $158.68. The business has a 50-day moving average of $159.15 and a two-hundred day moving average of $134.10. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The stock has a market capitalization of $163.23 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 3.05 and a beta of 1.29.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company had revenue of $19.42 billion during the quarter, compared to analysts’ expectations of $17.27 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. General Electric’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities analysts forecast that General Electric will post 3.78 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is currently 13.38%.

General Electric Company 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.