Spinnaker Trust Sells 250 Shares of General Electric (NYSE:GE)

Spinnaker Trust lessened its position in shares of General Electric (NYSE:GE) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,881 shares of the conglomerate’s stock after selling 250 shares during the period. Spinnaker Trust’s holdings in General Electric were worth $1,006,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GE. Halpern Financial Inc. grew its holdings in shares of General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 184 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in General Electric in the 4th quarter valued at about $27,000. CGC Financial Services LLC lifted its stake in General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 110 shares during the last quarter. Capital Analysts LLC lifted its stake in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in General Electric during the fourth quarter worth approximately $32,000. Institutional investors own 74.77% of the company’s stock.

Insider Activity

In other news, SVP Michael J. Holston sold 22,055 shares of the company’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 transaction, the senior vice president now 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 through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Trading Up 0.7 %

GE stock traded up $1.09 during midday trading on Friday, hitting $162.35. The stock had a trading volume of 5,898,021 shares, compared to its average volume of 9,321,559. The firm has a market cap of $177.71 billion, a P/E ratio of 53.22, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. General Electric has a 1-year low of $77.28 and a 1-year high of $163.65. The business has a fifty day moving average price of $160.72 and a two-hundred day moving average price of $136.09.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, sell-side analysts predict that General Electric will post 3.95 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and raised their price objective for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. 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. Jefferies Financial Group lowered their target price on shares of General Electric from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Finally, Vertical Research began coverage on shares of General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $170.00.

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.