Community Bank N.A. Sells 358 Shares of General Electric (NYSE:GE)

Community Bank N.A. cut its holdings in General Electric (NYSE:GE) by 11.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,808 shares of the conglomerate’s stock after selling 358 shares during the period. Community Bank N.A.’s holdings in General Electric were worth $358,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Halpern Financial Inc. lifted its position in General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of General Electric during the fourth quarter valued at about $27,000. CGC Financial Services LLC raised its position in shares of General Electric by 90.2% during the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares during the last quarter. Capital Analysts LLC raised its position in shares of General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares during the last quarter. Finally, Bfsg LLC acquired a new position in shares of General Electric during the fourth quarter valued at about $32,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

Shares of GE traded up $1.42 during mid-day trading on Thursday, hitting $160.61. 3,744,834 shares of the company traded hands, compared to its average volume of 8,111,428. General Electric has a one year low of $76.87 and a one year high of $163.65. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average of $160.20 and a 200 day moving average of $135.55. The stock has a market capitalization of $175.59 billion, a price-to-earnings ratio of 52.13, a PEG ratio of 3.05 and a beta of 1.29.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the prior year, the firm earned $0.27 earnings per share. General Electric’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that General Electric will post 3.95 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be issued a $0.28 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, April 12th. General Electric’s dividend payout ratio is currently 36.72%.

Analysts Set New Price Targets

GE has been the subject of a number of research analyst reports. Barclays cut their price objective on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and increased their price target for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Vertical Research began coverage on shares of General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price target for the company. StockNews.com began coverage on shares of General Electric in a research report on Sunday. They issued a “hold” rating for the company. Finally, TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $167.29.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the 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 sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the 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 sale, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

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.