Spinnaker Trust Purchases 62 Shares of General Electric (NYSE:GE)

Spinnaker Trust lifted its position in shares of General Electric (NYSE:GE) by 0.8% during the fourth quarter, HoldingsChannel reports. The firm owned 8,267 shares of the conglomerate’s stock after buying an additional 62 shares during the quarter. Spinnaker Trust’s holdings in General Electric were worth $1,379,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GE. Toth Financial Advisory Corp acquired a new stake in General Electric in the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric during the 3rd quarter worth about $27,000. Hager Investment Management Services LLC acquired a new position in shares of General Electric during the 4th quarter worth about $27,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of General Electric during the 3rd quarter worth about $28,000. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.73.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

General Electric Stock Performance

Shares of General Electric stock opened at $208.62 on Friday. The company has a 50 day moving average of $182.00 and a 200-day moving average of $178.98. General Electric has a 1-year low of $117.43 and a 1-year high of $211.42. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a market cap of $223.91 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts forecast that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 18.70%.

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.