General Electric (NYSE:GE) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division cut its holdings in General Electric (NYSE:GE – Get Rating) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,344 shares of the conglomerate’s stock after selling 1,264 shares during the quarter. Moody National Bank Trust Division’s holdings in General Electric were worth $1,770,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. grew its position in shares of General Electric by 1.0% in the first quarter. Beese Fulmer Investment Management Inc. now owns 21,712 shares of the conglomerate’s stock valued at $1,987,000 after purchasing an additional 205 shares during the last quarter. Bouvel Investment Partners LLC boosted its position in General Electric by 3.8% during the first quarter. Bouvel Investment Partners LLC now owns 22,559 shares of the conglomerate’s stock worth $2,064,000 after acquiring an additional 829 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in General Electric by 3.0% during the first quarter. Dynamic Advisor Solutions LLC now owns 6,970 shares of the conglomerate’s stock worth $638,000 after acquiring an additional 201 shares during the last quarter. Evanson Asset Management LLC acquired a new stake in General Electric during the first quarter worth approximately $153,000. Finally, Veriti Management LLC boosted its position in General Electric by 37.6% during the first quarter. Veriti Management LLC now owns 8,518 shares of the conglomerate’s stock worth $779,000 after acquiring an additional 2,328 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

A number of analysts recently issued reports on the stock. Credit Suisse Group decreased their target price on shares of General Electric from $113.00 to $102.00 in a research report on Wednesday, April 27th. Bank of America decreased their target price on shares of General Electric from $132.00 to $120.00 in a research report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $118.00 to $107.00 in a research report on Wednesday, April 27th. Morgan Stanley cut their price target on shares of General Electric from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 31st. Finally, StockNews.com began coverage on shares of General Electric in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.36.

In other news, Director Paula Rosput Reynolds purchased 1,200 shares of the stock in a transaction that occurred on Friday, May 6th. The stock was acquired at an average cost of $77.65 per share, with a total value of $93,180.00. Following the acquisition, the director now owns 5,563 shares in the company, valued at $431,966.95. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Electric Co General sold 72,025,826 shares of the firm’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $34.45, for a total transaction of $2,481,289,705.70. Following the sale, the insider now directly owns 3,931,363 shares of the company’s stock, valued at $135,435,455.35. The disclosure for this sale can be found here. In the last three months, insiders bought 69,801 shares of company stock worth $5,207,705. Insiders own 0.70% of the company’s stock.

Shares of GE stock opened at $64.54 on Thursday. The company’s fifty day simple moving average is $77.05 and its 200-day simple moving average is $88.76. General Electric has a 52 week low of $64.17 and a 52 week high of $116.17. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.19 and a quick ratio of 0.88.

General Electric (NYSE:GE – Get Rating) last issued its earnings results on Tuesday, April 26th. The conglomerate reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. General Electric had a negative net margin of 6.43% and a positive return on equity of 6.41%. The business had revenue of $17.04 billion for the quarter, compared to the consensus estimate of $16.92 billion. During the same quarter last year, the firm posted $0.24 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, research analysts forecast that General Electric will post 2.82 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 25th. Stockholders of record on Tuesday, June 28th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Monday, June 27th. General Electric’s dividend payout ratio is presently -6.99%.

General Electric Profile (Get Rating)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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