Ledyard National Bank Has $347,000 Stake in General Electric (NYSE:GE)

Ledyard National Bank decreased its position in General Electric (NYSE:GE) by 21.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,975 shares of the conglomerate’s stock after selling 524 shares during the quarter. Ledyard National Bank’s holdings in General Electric were worth $347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. Halpern Financial Inc. grew its position in shares of General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 184 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of General Electric in the fourth quarter valued at approximately $27,000. CGC Financial Services LLC boosted its stake in shares of General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares during the period. Capital Analysts LLC boosted its stake in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares during the period. Finally, Bfsg LLC bought a new stake in shares of General Electric in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

General Electric stock traded down $0.21 during trading on Friday, hitting $158.58. The stock had a trading volume of 3,075,075 shares, compared to its average volume of 7,073,170. General Electric has a 1 year low of $84.42 and a 1 year high of $170.80. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average is $161.89 and its two-hundred day moving average is $154.68. The stock has a market cap of $173.58 billion, a price-to-earnings ratio of 52.39, a price-to-earnings-growth ratio of 1.66 and a beta of 1.21.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts predict that General Electric will post 4.02 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be paid a $0.28 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.71%. General Electric’s dividend payout ratio is presently 36.72%.

Insider Activity at General Electric

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

Analyst Ratings Changes

Several brokerages recently issued reports on GE. Jefferies Financial Group boosted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Barclays cut their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Wells Fargo & Company raised their price objective on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Royal Bank of Canada lifted their target price on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.93.

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.