Canandaigua National Bank & Trust Co. Boosts Holdings in General Electric (NYSE:GE)

Canandaigua National Bank & Trust Co. grew its position in shares of General Electric (NYSE:GE) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,502 shares of the conglomerate’s stock after buying an additional 146 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in General Electric were worth $2,419,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Tsfg LLC boosted its holdings in General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 55 shares in the last quarter. Strategic Advisors LLC grew its holdings in General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after acquiring an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its position in General Electric by 1.0% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after acquiring an additional 60 shares in the last quarter. Meridian Management Co. lifted its holdings in General Electric by 1.2% in the third quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock valued at $972,000 after acquiring an additional 61 shares during the period. Finally, Mayflower Financial Advisors LLC boosted its position in shares of General Electric by 3.0% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 2,115 shares of the conglomerate’s stock worth $399,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 0.3 %

GE traded up $0.58 during midday trading on Monday, hitting $172.54. The company’s stock had a trading volume of 4,719,072 shares, compared to its average volume of 3,964,266. The firm has a market cap of $186.74 billion, a P/E ratio of 30.32, a PEG ratio of 1.63 and a beta of 1.19. General Electric has a 52-week low of $99.37 and a 52-week high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $174.45 and a two-hundred day moving average price of $173.17.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. On average, research analysts anticipate that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Bank of America lifted their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their target price on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Citigroup boosted their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.47.

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.