Stock Yards Bank & Trust Co. Sells 2,597 Shares of General Electric (NYSE:GE)

Stock Yards Bank & Trust Co. lessened its holdings in General Electric (NYSE:GE) by 22.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,954 shares of the conglomerate’s stock after selling 2,597 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in General Electric were worth $1,143,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Wedge Capital Management L L P NC bought a new position in shares of General Electric during the 3rd quarter worth $224,000. Summit Global Investments bought a new position in shares of General Electric in the 3rd quarter worth $218,000. RFG Advisory LLC boosted its position in General Electric by 9.6% during the third quarter. RFG Advisory LLC now owns 3,197 shares of the conglomerate’s stock valued at $353,000 after purchasing an additional 280 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of General Electric by 6.9% during the third quarter. DAVENPORT & Co LLC now owns 26,440 shares of the conglomerate’s stock valued at $2,923,000 after buying an additional 1,706 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of General Electric by 25.8% during the 3rd quarter. Avior Wealth Management LLC now owns 3,872 shares of the conglomerate’s stock worth $428,000 after acquiring an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 8.3 %

General Electric stock opened at $162.62 on Wednesday. General Electric has a 52 week low of $76.87 and a 52 week high of $163.65. The firm has a market cap of $177.79 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 2.96 and a beta of 1.29. The business’s 50-day moving average price is $159.94 and its 200 day moving average price is $135.39. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same period in the previous year, the firm earned $0.27 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that General Electric will post 3.76 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be paid a dividend of $0.28 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, April 12th. General Electric’s dividend payout ratio is presently 13.38%.

Analyst Ratings Changes

GE has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Finally, StockNews.com began coverage on General Electric in a research report on Sunday. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $160.07.

Insider Activity

In other news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric 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.