Fulton Bank N.A. Has $272,000 Holdings in General Electric (NYSE:GE)

Fulton Bank N.A. boosted its position in General Electric (NYSE:GE) by 16.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,712 shares of the conglomerate’s stock after buying an additional 245 shares during the quarter. Fulton Bank N.A.’s holdings in General Electric were worth $272,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. USA Financial Formulas boosted its holdings in General Electric by 24,042.9% in the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock valued at $1,294,000 after purchasing an additional 10,098 shares during the period. Grandfield & Dodd LLC boosted its holdings in General Electric by 9.3% in the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after purchasing an additional 22,998 shares during the period. Rathbones Group PLC boosted its holdings in General Electric by 2.7% in the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after purchasing an additional 5,997 shares during the period. Dimensional Fund Advisors LP boosted its holdings in General Electric by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock valued at $534,123,000 after purchasing an additional 318,245 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after purchasing an additional 550,996 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GE shares. UBS Group raised their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Citigroup raised their price objective on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Bank of America raised their price objective on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and raised their price objective for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.71.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by insiders.

General Electric Trading Up 2.4 %

General Electric stock traded up $3.83 during midday trading on Tuesday, hitting $162.19. 5,055,198 shares of the stock were exchanged, compared to its average volume of 7,112,696. The company has a fifty day simple moving average of $162.65 and a two-hundred day simple moving average of $158.25. General Electric has a 52 week low of $84.42 and a 52 week high of $177.20. The stock has a market capitalization of $177.53 billion, a PE ratio of 53.33, a P/E/G ratio of 1.70 and a beta of 1.21. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Equities research analysts anticipate that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is presently 36.72%.

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.