Spinnaker Trust Has $1.38 Million Stake in General Electric (NYSE:GE)

Spinnaker Trust boosted its holdings in shares of General Electric (NYSE:GE) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,267 shares of the conglomerate’s stock after buying an additional 62 shares during the quarter. Spinnaker Trust’s holdings in General Electric were worth $1,379,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Toth Financial Advisory Corp bought a new stake in General Electric during the third quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric during the third quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the third quarter valued at about $27,000. Peterson Financial Group Inc. bought a new stake in General Electric during the third quarter valued at about $28,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in General Electric during the third quarter valued at about $30,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’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 approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GE shares. UBS Group upped their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Citigroup increased their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $208.73.

General Electric Stock Up 0.1 %

Shares of GE opened at $208.62 on Friday. The stock has a market cap of $223.91 billion, a price-to-earnings ratio of 34.83, a P/E/G ratio of 2.56 and a beta of 1.22. The company has a 50-day moving average price of $182.00 and a two-hundred day moving average price of $178.98. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 12 month low of $117.43 and a 12 month high of $211.42.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Equities analysts predict that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is currently 18.70%.

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.