AMG National Trust Bank Sells 3,086 Shares of General Electric (NYSE:GE)

AMG National Trust Bank lowered its stake in shares of General Electric (NYSE:GE) by 31.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,800 shares of the conglomerate’s stock after selling 3,086 shares during the period. AMG National Trust Bank’s holdings in General Electric were worth $1,136,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GE. Avidian Wealth Enterprises LLC increased its stake in shares of General Electric by 7.3% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 2,341 shares of the conglomerate’s stock worth $441,000 after purchasing an additional 160 shares during the last quarter. Graypoint LLC increased its stake in shares of General Electric by 8.2% during the 3rd quarter. Graypoint LLC now owns 8,342 shares of the conglomerate’s stock worth $1,573,000 after purchasing an additional 634 shares during the last quarter. Cozad Asset Management Inc. increased its stake in shares of General Electric by 23.7% during the 3rd quarter. Cozad Asset Management Inc. now owns 1,738 shares of the conglomerate’s stock worth $328,000 after purchasing an additional 333 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of General Electric by 3.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,323,553 shares of the conglomerate’s stock worth $249,596,000 after purchasing an additional 48,543 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its stake in shares of General Electric by 4.5% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 7,522 shares of the conglomerate’s stock worth $1,418,000 after purchasing an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE GE opened at $194.08 on Friday. General Electric has a 52-week low of $130.38 and a 52-week high of $212.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market capitalization of $208.31 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.59 and a beta of 1.19. The company has a fifty day moving average of $193.02 and a 200-day moving average of $183.02.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Monday, March 10th. General Electric’s payout ratio is currently 24.04%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GE shares. Redburn Atlantic assumed coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Bank of America lifted their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company lifted their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

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.