First National Bank & Trust Co. of Newtown Sells 1,686 Shares of General Electric Company (NYSE:GE)
First National Bank & Trust Co. of Newtown lowered its stake in General Electric Company (NYSE:GE) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 211,484 shares of the conglomerate’s stock after selling 1,686 shares during the period. General Electric Company accounts for approximately 1.9% of First National Bank & Trust Co. of Newtown’s holdings, making the stock its 12th largest position. First National Bank & Trust Co. of Newtown’s holdings in General Electric Company were worth $6,300,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in General Electric Company by 3.0% in the fourth quarter. State Street Corp now owns 357,567,340 shares of the conglomerate’s stock valued at $11,299,139,000 after buying an additional 10,321,746 shares in the last quarter. FMR LLC boosted its stake in General Electric Company by 0.7% in the fourth quarter. FMR LLC now owns 130,741,961 shares of the conglomerate’s stock valued at $4,131,446,000 after buying an additional 900,672 shares in the last quarter. Norges Bank bought a new stake in General Electric Company during the fourth quarter valued at about $2,383,193,000. Trustees of General Electric Pension Trust bought a new stake in General Electric Company during the fourth quarter valued at about $1,038,590,000. Finally, Teachers Advisors LLC boosted its stake in General Electric Company by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock valued at $577,734,000 after buying an additional 2,592,455 shares in the last quarter. 54.22% of the stock is currently owned by institutional investors.
General Electric Company (GE) traded down 0.04% during trading on Friday, reaching $26.78. 21,058,280 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $27.94 and its 200-day moving average price is $29.66. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 24.80 and a beta of 1.22. General Electric Company has a 52-week low of $25.85 and a 52-week high of $33.00.
General Electric Company (NYSE:GE) last issued its earnings results on Friday, April 21st. The conglomerate reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $27.66 billion during the quarter, compared to analyst estimates of $26.37 billion. General Electric Company had a return on equity of 16.59% and a net margin of 7.48%. General Electric Company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. Equities analysts expect that General Electric Company will post $1.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Monday, June 19th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.58%. General Electric Company’s payout ratio is 97.96%.
Several equities research analysts recently issued reports on GE shares. Vetr cut shares of General Electric Company from a “strong-buy” rating to a “buy” rating and set a $33.56 target price on the stock. in a research report on Tuesday, April 4th. Deutsche Bank AG set a $24.00 target price on shares of General Electric Company and gave the stock a “sell” rating in a research report on Saturday, May 20th. Stifel Nicolaus raised their price target on shares of General Electric Company from $32.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Royal Bank Of Canada cut their price target on shares of General Electric Company from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, April 24th. Finally, BidaskClub lowered shares of General Electric Company from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 28th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $31.14.
In related news, Director William G. Beattie purchased 4,000 shares of the stock in a transaction on Wednesday, May 17th. The shares were purchased at an average cost of $27.70 per share, for a total transaction of $110,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Beattie purchased 16,000 shares of the stock in a transaction on Monday, May 15th. The stock was bought at an average price of $28.05 per share, for a total transaction of $448,800.00. The disclosure for this purchase can be found here. Insiders purchased 140,000 shares of company stock valued at $3,964,600 over the last 90 days. 0.36% of the stock is currently owned by corporate insiders.
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