Central Pacific Bank Trust Division Sells 59 Shares of General Electric (NYSE:GE)

Central Pacific Bank Trust Division reduced its stake in General Electric (NYSE:GE) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,400 shares of the conglomerate’s stock after selling 59 shares during the period. Central Pacific Bank Trust Division’s holdings in General Electric were worth $1,735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tsfg LLC lifted its stake in shares of General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 55 shares during the period. Strategic Advisors LLC grew its position in shares of 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 buying an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its stake in shares of General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after acquiring an additional 60 shares in the last quarter. Meridian Management Co. increased its stake in shares of General Electric by 1.2% in the 3rd quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock worth $972,000 after acquiring an additional 61 shares in the last quarter. Finally, Mayflower Financial Advisors LLC boosted its stake in General Electric by 3.0% during the third quarter. Mayflower Financial Advisors LLC now owns 2,115 shares of the conglomerate’s stock worth $399,000 after acquiring an additional 62 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Up 2.1 %

GE traded up $3.57 on Friday, reaching $172.16. 1,749,333 shares of the company traded hands, compared to its average volume of 2,904,667. 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 $186.33 billion, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17. The firm has a fifty day simple moving average of $174.59 and a two-hundred day simple moving average of $173.00. General Electric has a one year low of $99.34 and a one year high of $194.80.

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

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Ratings Changes

A number of brokerages have recently commented on GE. Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company lifted their price target on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Bank of America increased their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Melius Research increased their price target on shares of General Electric from $194.00 to $202.00 in a 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.47.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction 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 represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.