Coastline Trust Co Raises Stock Position in General Electric (NYSE:GE)

Coastline Trust Co raised its stake in shares of General Electric (NYSE:GE) by 19.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,834 shares of the conglomerate’s stock after acquiring an additional 934 shares during the quarter. Coastline Trust Co’s holdings in General Electric were worth $1,100,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. KCM Investment Advisors LLC lifted its stake in General Electric by 1.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 4,261 shares of the conglomerate’s stock valued at $804,000 after buying an additional 75 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in General Electric during the 3rd quarter worth approximately $25,000. Empirical Finance LLC raised its holdings in shares of General Electric by 2.2% during the third quarter. Empirical Finance LLC now owns 37,629 shares of the conglomerate’s stock valued at $7,096,000 after acquiring an additional 821 shares during the last quarter. First Business Financial Services Inc. purchased a new position in shares of General Electric in the third quarter valued at approximately $225,000. Finally, CIBC Asset Management Inc lifted its position in shares of General Electric by 7.5% in the third quarter. CIBC Asset Management Inc now owns 158,286 shares of the conglomerate’s stock valued at $29,850,000 after acquiring an additional 11,057 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Down 0.8 %

Shares of GE opened at $176.89 on Friday. General Electric has a 12-month low of $93.05 and a 12-month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $182.29 and its 200 day moving average price is $170.57. The firm has a market cap of $191.45 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, sell-side analysts forecast that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analysts Set New Price Targets

Several research analysts recently commented on GE shares. Wells Fargo & Company increased their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. 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 report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $200.93.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.