First Hawaiian Bank Raises Stake in General Electric (NYSE:GE)

First Hawaiian Bank increased its stake in General Electric (NYSE:GE) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,643 shares of the conglomerate’s stock after buying an additional 431 shares during the period. First Hawaiian Bank’s holdings in General Electric were worth $3,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Studio Investment Management LLC grew its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of General Electric during the 3rd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in shares of General Electric during the third quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the third quarter valued at about $27,000. Finally, Peterson Financial Group Inc. purchased a new stake in General Electric in the third quarter worth about $28,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Northcoast Research assumed coverage on General Electric in a research report on Tuesday. They set a “neutral” rating on the stock. Wells Fargo & Company raised their price objective on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Bank of America increased their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $201.47.

Insider Activity

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the business’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 completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of NYSE:GE traded up $0.54 during midday trading on Wednesday, reaching $172.85. The company’s stock had a trading volume of 4,509,612 shares, compared to its average volume of 4,801,725. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average of $174.36 and a 200 day moving average of $173.28. General Electric has a twelve month low of $100.95 and a twelve month high of $194.80. The firm has a market capitalization of $187.07 billion, a PE ratio of 30.38, a P/E/G ratio of 1.63 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the business posted $0.82 EPS. The company’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts expect that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. General Electric’s payout ratio is 19.68%.

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.