NBT Bank N A NY Has $1.80 Million Position in General Electric (NYSE:GE)

NBT Bank N A NY lowered its position in General Electric (NYSE:GE) by 1.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,797 shares of the conglomerate’s stock after selling 131 shares during the period. NBT Bank N A NY’s holdings in General Electric were worth $1,801,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GE. Jennison Associates LLC increased its holdings in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after buying an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC increased its holdings in General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after buying an additional 1,593,413 shares during the last quarter. Raymond James Financial Inc. acquired a new position in General Electric in the fourth quarter worth approximately $194,208,000. Franklin Resources Inc. boosted its position in General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after purchasing an additional 973,135 shares during the period. Finally, State Street Corp boosted its position in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent analyst reports. Citigroup upped their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. UBS Group increased their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

General Electric stock opened at $191.61 on Tuesday. General Electric has a 52-week low of $130.38 and a 52-week high of $212.19. The firm has a market capitalization of $205.65 billion, a P/E ratio of 31.99, a P/E/G ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a fifty day moving average price of $193.49 and a two-hundred day moving average price of $183.35.

General Electric (NYSE:GE) last announced its earnings results 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, analysts anticipate that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.75%. General Electric’s dividend payout ratio (DPR) is 24.04%.

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.