Central Pacific Bank Trust Division Sells 59 Shares of General Electric (NYSE:GE)

Central Pacific Bank Trust Division cut its position in shares of General Electric (NYSE:GE) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,400 shares of the conglomerate’s stock after selling 59 shares during the quarter. Central Pacific Bank Trust Division’s holdings in General Electric were worth $1,735,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Studio Investment Management LLC raised its position in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in General Electric during the third quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric in the third quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric in the third quarter valued at approximately $27,000. Finally, Peterson Financial Group Inc. bought a new position in shares of General Electric during the 3rd quarter worth approximately $28,000. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of General Electric stock traded up $3.57 during trading on Friday, hitting $172.16. 1,749,333 shares of the stock traded hands, compared to its average volume of 2,904,667. The stock has a market cap of $186.33 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 1.66 and a beta of 1.17. 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 $99.34 and a 52 week high of $194.80. The firm’s fifty day moving average is $174.59 and its 200-day moving average is $173.00.

General Electric (NYSE:GE) last posted 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. 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 for the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the firm posted $0.82 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. Research analysts expect that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

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

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft decreased 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 report on Thursday. Bank of America raised their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, UBS Group raised their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus price target of $201.47.

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.