General Electric (NYSE:GE) Shares Bought by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. boosted its stake in General Electric (NYSE:GE) by 15.3% in the fourth quarter, Holdings Channel reports. The fund owned 3,106 shares of the conglomerate’s stock after buying an additional 412 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in General Electric were worth $396,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Halpern Financial Inc. raised its position 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 purchasing an additional 184 shares in the last quarter. Criterion Capital Advisors LLC acquired a new position in General Electric during the 4th quarter worth $27,000. CGC Financial Services LLC increased its position in shares of General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 110 shares during the last quarter. Capital Analysts LLC lifted 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 worth $31,000 after purchasing an additional 87 shares during the last quarter. Finally, Bfsg LLC acquired a new position in General Electric in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE opened at $159.70 on Thursday. The stock has a market cap of $174.81 billion, a P/E ratio of 52.36, a P/E/G ratio of 2.88 and a beta of 1.25. The firm’s 50-day simple moving average is $161.50 and its 200 day simple moving average is $137.33. General Electric has a fifty-two week low of $77.93 and a fifty-two week high of $166.26. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last released its 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. The firm had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. Equities analysts expect that General Electric will post 3.95 EPS for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio is 36.72%.

Insider Buying and Selling at General Electric

In other news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were 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 directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on 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 transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GE has been the topic of a number of research analyst reports. Jefferies Financial Group increased their target price on General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. reduced their price objective on General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Royal Bank of Canada boosted their target price on shares of General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Bank of America raised their price target on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, 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 on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $172.29.

About General Electric

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.