Eastern Bank Has $1.65 Million Position in General Electric (NYSE:GE)

Eastern Bank reduced its holdings in shares of General Electric (NYSE:GE) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,908 shares of the conglomerate’s stock after selling 222 shares during the period. Eastern Bank’s holdings in General Electric were worth $1,653,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Catalyst Capital Advisors LLC boosted its position in General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after buying an additional 146 shares in the last quarter. Mackenzie Financial Corp boosted its position in General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after buying an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC acquired a new position in General Electric in the second quarter valued at about $1,569,000. State Street Corp boosted its position in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Finally, Soltis Investment Advisors LLC boosted its position in General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after buying an additional 20,575 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research firms have commented on GE. Citigroup boosted their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Bank of America boosted their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Stock Down 0.1 %

Shares of NYSE:GE opened at $171.48 on Tuesday. General Electric has a 52 week low of $100.95 and a 52 week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $185.59 billion, a PE ratio of 30.14, a PEG ratio of 1.63 and a beta of 1.19. The company has a 50 day moving average price of $174.34 and a two-hundred day moving average price of $173.62.

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

General Electric Dividend Announcement

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

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.