General Electric (NYSE:GE) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. trimmed its holdings in General Electric (NYSE:GE) by 22.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,954 shares of the conglomerate’s stock after selling 2,597 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in General Electric were worth $1,143,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GE. WCM Investment Management LLC acquired a new stake in General Electric during the 4th quarter worth $520,488,000. Brown Advisory Inc. boosted its position in shares of General Electric by 265.7% in the 3rd quarter. Brown Advisory Inc. now owns 3,008,425 shares of the conglomerate’s stock valued at $332,581,000 after purchasing an additional 2,185,793 shares during the period. International Assets Investment Management LLC grew its stake in General Electric by 11,947.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock worth $201,218,000 after buying an additional 1,563,484 shares during the last quarter. Carmignac Gestion acquired a new position in General Electric during the third quarter worth approximately $133,581,000. Finally, AQR Capital Management LLC lifted its stake in General Electric by 358.4% in the third quarter. AQR Capital Management LLC now owns 1,456,673 shares of the conglomerate’s stock valued at $161,035,000 after buying an additional 1,138,896 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. Vertical Research began coverage on shares of General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price for the company. Wells Fargo & Company dropped their target price on General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. TheStreet raised General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and lifted their price objective for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $160.07.

Insider Buying and Selling

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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 sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Trading Up 8.3 %

Shares of General Electric stock opened at $162.62 on Wednesday. The company has a 50-day moving average of $159.94 and a two-hundred day moving average of $135.39. General Electric has a 12-month low of $76.87 and a 12-month high of $163.65. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The stock has a market cap of $177.79 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.96 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, research analysts anticipate that General Electric will post 3.76 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is currently 13.38%.

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.