Camden National Bank Invests $224,000 in General Electric (NYSE:GE)

Camden National Bank bought a new position in General Electric (NYSE:GE) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,186 shares of the conglomerate’s stock, valued at approximately $224,000.

Several other institutional investors also recently added to or reduced their stakes in GE. Newport Trust Company LLC purchased a new position in General Electric during the 2nd quarter valued at about $2,613,332,000. Jennison Associates LLC increased its position in General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in General Electric during the 2nd quarter valued at about $580,200,000. International Assets Investment Management LLC increased its position in General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after purchasing an additional 3,158,153 shares during the period. Finally, Wulff Hansen & CO. increased its position in General Electric by 18,693.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after purchasing an additional 1,605,434 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 1.4 %

GE stock opened at $181.15 on Friday. The firm has a 50 day moving average of $183.22 and a 200 day moving average of $171.12. The stock has a market capitalization of $196.06 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 52 week low of $94.54 and a 52 week high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the business posted $0.82 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts forecast that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction 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 directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction 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 approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Sanford C. Bernstein raised their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. UBS Group lifted their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays lifted their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Citigroup lifted 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. Finally, Wells Fargo & Company lifted their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

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.